On July 8, 2024, BYD of China and the Turkish government signed an agreement to build an electric vehicle factory in Turkey. According to the agreement, BYD will invest about $1 billion to build a factory in Turkey with an annual production capacity of 150,000 electric vehicles and hybrid vehicles, and plans to build a research and development center or mobile technology center. The factory is scheduled to be put into production in 2026 and is expected to create a large number of local jobs.

Turkish Industry Minister Mehmet Kasser announced to the media that Turkey has successfully reached a major investment cooperation agreement with BYD, a leader in the global electric vehicle manufacturing industry, under the personal witness of President Erdogan. According to this agreement, BYD will invest about $1 billion to build an electric vehicle and hybrid vehicle production base with an annual production capacity of up to 150,000 vehicles, and set up a cutting-edge mobile technology center, which will undoubtedly greatly promote the innovation and development of the Turkish automotive industry.

BYD has placed special emphasis on the establishment of a research and development center in its electric vehicle factory planning in Turkey, a move aimed at deepening its exploration and innovation in the field of global new energy vehicle technology, thereby further consolidating its position as an industry leader. The research and development center will serve as an engine for technological innovation, focusing on the research and development of cutting-edge technologies for new energy vehicles, and continuously promoting product iteration and upgrading to meet the market's growing demand for green travel.Editor/Zhang Liyuan