Trade Minister Bolat: There's No Problem for BYD Investments.

Important Statements from Minister of Trade Bolat

The Turkey-China Business Conference, organized in collaboration with the Foreign Economic Relations Board (DEİK), the Turkish Industrialists and Businessmen Association (TÜSİAD), and the China Council for the Promotion of International Trade (CCPIT), was held with the participation of 150 Turkish and 80 Chinese business representatives.

Minister of Trade’s Statements on BYD

Minister of Trade Ömer Bolat, who attended the conference, responded to recent claims that Chinese automotive giant BYD had "suspended" its investments in Turkey. Minister Bolat stated, "They are in contact with our Minister of Industry. There is no problem. Our Ministry of Industry is following the process. The BYD officials were also here this week."

Agreement in July 2024

An important investment agreement was signed between BYD, the world's largest electric vehicle manufacturer, and the Ministry of Industry and Technology in July 2024. With this agreement, BYD was exempted from additional customs duties with its commitment to establish a car factory in Manisa.

In this context, it is planned that BYD will establish a production facility for electric and plug-in hybrid cars with an annual capacity of 150,000 vehicles, along with a research and development center for sustainable mobility technologies, with an investment of approximately 1 billion dollars in Turkey. It is expected that the facility, which aims to start production by the end of 2026, will provide direct employment for 5,000 people.