Just four days after opening its new plant in Thailand, the Chinese EV manufacturer BYD has signed an agreement to expand its global manufacturing presence into Turkey. The deal includes plans to establish a plant with a capacity to produce 150,000 units annually, mirroring the scale of the Thai facility.
BYD, the largest electric vehicle manufacturer, is further extending its global production network by entering the Turkish market. On July 8, BYD inked a significant agreement with Turkey’s Ministry of Industry and Technology to establish a new manufacturing facility in Turkey.
The contract was formalized during a ceremonial event on Monday, witnessed by President Recep Tayyip Erdogan, Industry and Technology Minister Mehmet Fatih Kacir, and BYD’s Chairman and CEO Wang Chuanfu. In addition to the ceremony, President Erdogan also engaged with a delegation from BYD in Istanbul.
This new venture involves an investment approximated at US$ 1 billion (approximately Rs 8,330 crore) and includes the construction of the BYD Turkey plant, which will boast an annual production capacity of 150,000 electric vehicles. Additionally, the site will feature a research and development centre and a mobility centre. Production at this facility is expected to begin by the end of 2026, providing 5,000 jobs locally.
This announcement comes shortly after the company celebrated the inauguration of its Thailand plant in Rayong and the production of its eight-millionth new energy vehicle on July 4, demonstrating a rapid expansion in its global operations. The Rayong plant mirrors the new Turkish facility with an equivalent production capacity.
Earlier this month, Turkey announced a 40% additional tax on imported vehicles from China, a move aligned with the EU’s recent imposition of provisional tariffs of up to 37.6% on Chinese EVs starting July 4. Another Chinese EV company, SWM, has submitted plans for a manufacturing site in Turkey, strategically positioning it as a gateway to the European market.
BYD has shown remarkable production speed, having produced its millionth new energy vehicle in May 2021 and reaching its eight-millionth vehicle in just over three years. The company rolled out its seventh million NEV on March 25, 2024, and within just 101 days, celebrated the production of its eight-millionth vehicle on July 4.
As BYD continues to expand its global footprint, it leverages cutting-edge technology and innovative products to meet robust international demand. This growth strategy is underscored by increasing sales figures, with BYD selling 341,658 NEVs in June alone, marking a 35% year-over-year increase, and the recent inauguration of the BYD Uzbekistan Factory.
