BYD’s Ambitious Plans for Turkey: Aiming for Top Three Spot in Automobile Industry
BYD to Invest $1 Billion in Turkey for Electric Vehicle Production
BYD Turkey General Manager İsmail Ergun recently announced BYD’s plan to invest $1 billion in Turkey for the production of electric and plug-in hybrid vehicles. The facility, located in Manisa, will initially have a capacity of 150,000 vehicles and will be expandable in the future.
In a press conference held by BYD Turkey, ALJ Turkey and Europe President and CEO Ali Haydar Bozkurt expressed their excitement about the investment decision. Ergun highlighted the importance of this investment for BYD’s growth in Europe.
Ergun mentioned that BYD’s top executives have visited Turkey multiple times, expressing their strong belief in the Turkish market. He stated that the investment will pave the way for BYD to enter a new era in Turkey, aiming to become one of the top three preferred brands in the passenger car market within three years.
The investment decision will lead to rapid growth for BYD in Turkey, with plans to offer electric and rechargeable hybrid models to consumers by the end of the year. The company also aims to increase its dealer network to 40 by next year.
After the investment agreement is published in the Official Gazette, BYD will benefit from a 40 percent tax exemption, giving them a competitive edge in the market.
Ali Haydar Bozkurt emphasized the significance of BYD’s decision to produce cars in Turkey, highlighting the employment and export opportunities it will bring to the country. He expressed confidence that this investment will attract other brands to consider Turkey as a favorable location for their productions.
Overall, BYD’s investment in Turkey is seen as a major milestone for the country’s automotive industry, positioning Turkey as a strategic hub for electric vehicle production. With strong support from both BYD and ALJ Turkey, this partnership is expected to drive growth and innovation in the automotive sector.
