Chinese Electric Vehicle Manufacturer BYD to Invest $1 Billion in Turkey
The agreement for the Chinese electric vehicle manufacturer BYD to invest in Turkey has been signed with the attendance of President Recep Tayyip Erdoğan, Minister of Industry and Technology Mehmet Fatih Kacır, and BYD Chairman of the Board Wang Chuanfu.
This $1 billion investment is expected to start production by the end of 2026 and create approximately 5,000 direct jobs.
Vice President Cevdet Yılmaz highlighted that the investment environment has improved due to the implemented policies. He expressed that this investment would accelerate long-term international capital inflows and improve the quality of current account deficit financing.
Yılmaz also noted that this investment will make significant contributions to exports in the medium term and further reduce the existing current account deficit. He congratulated all the institutions that contributed to the process.