Danish Kapoor
Danish Kapoor

BYD to Invest $1 Billion in Electric Vehicles in Turkey

BYD, China’s leading electric vehicle manufacturer, has made a major investment move in Turkey. At the signing ceremony hosted by President Recep Tayyip Erdoğan in Istanbul, an important agreement was signed between BYD and the Ministry of Industry and Technology. BYD entered the Turkish market in the fall of last year.

According to the statement made by the Ministry of Industry and Technology, BYD will make an investment of approximately 1 billion dollars in Turkey. Within the scope of this investment, a facility with an annual production capacity of 150 thousand vehicles will be established and a mobility R&D center will also be put into operation. Minister of Industry and Technology Mehmet Fatih Kacır and BYD Chairman Wang Chuanfu were present at the signing ceremony of the agreement.

Ministry officials announced that BYD’s new production facility in Turkey will be operational in 2026. Once the factory starts operating at full capacity, it is expected to provide direct employment for 5,000 people. This will make a significant contribution to Turkey’s fight against unemployment and help keep a qualified workforce in the country.

BYD’s preference for Türkiye and its strategic importance

BYD management explained the reasons behind their preference for Turkey. The company spokesperson stated that Turkey’s advanced technology ecosystem, strong supplier network, strategic location and qualified workforce were effective in this decision. With this investment, BYD aims to increase local production capacity and increase logistics efficiency. It also aims to reach consumers in the European market more easily and meet the demand for electric vehicles in the region.

Minister of Industry and Technology Mehmet Fatih Kacır emphasized that this investment will strengthen Turkey’s position in the automotive sector. Kacır reminded that Turkey is currently the third largest automobile manufacturer in Europe and exports over 35 billion dollars annually. The minister stated that the transformation towards new generation and environmentally friendly electric vehicles is among their priority targets.

This investment will not only increase Turkey’s production capacity, but will also contribute to the country’s development in technology and innovation. The R&D center to be established by BYD will allow Turkey to have a say in electric vehicle technologies and develop its own know-how in this area. In the long run, this could help Turkey become more competitive in the global electric vehicle market.

Danish Kapoor