Newsletters
Official sources have dismissed concerns about delays in Chinese electric vehicle giant BYD's $1 billion investment in Türkiye, stating that both BYD and fellow Chinese automaker Chery's investment plans are moving forward as scheduled, according to a report by CNBC-e.
The statement comes right after the head of Türkiye's Automotive Manufacturers Association expressed frustration over what he described as a lack of progress at BYD's proposed factory site in Manisa province.
Cengiz Eroldu, head of Türkiye's Automotive Manufacturers Association (OSD), expressed frustration on Thursday over the lack of progress in BYD's factory project. Speaking to CNBC-e, Eroldu said that despite the investment being publicly disclosed over a year ago, there has been no activity at the proposed site in Manisa.
Eroldu noted that while BYD's decision to choose Türkiye as a manufacturing hub was welcomed by the sector, the absence of concrete steps on the ground has raised questions. He emphasized the need for the company to respond.
Official sources reached by CNBC-e stated that there are no delays in BYD's Türkiye investment and that BYD and Chery's investment plans are continuing as scheduled. The sources said BYD's factory construction in Manisa will be completed on schedule.
The Chinese automotive giant announced its intention to invest $1 billion in Türkiye in July of the previous year.
In July 2024, BYD officially signed a $1 billion investment agreement to establish a manufacturing plant in Manisa, western Türkiye. The project includes the construction of an electric vehicle facility with an expected annual production capacity of 150,000 units.
The facility is designed to serve both domestic and international markets, positioning Türkiye as a strategic manufacturing hub for BYD's European and regional operations.
1 min read
1 min read
