China’s BYD Is Poised to Build $1 Billion EV Plant in Turkey
- President Erdogan is expect to announce agreement on Monday
- Carmaker is already in the midst of building plant in Hungary
BYD Co. Dolphin compact hatchback electric vehicles.
Photographer: Valeria Mongelli/BloombergThis article is for subscribers only.
Turkey will soon unveil an agreement with BYD Co. to construct a $1 billion plant in the west of the country, Turkish officials said, boosting the Chinese carmaker’s presence in Europe at a time of escalating trade tensions.
Turkey’s President Recep Tayyip Erdogan is expected to announce the accord on Monday during a ceremony in Manisa province, where the plant will be built, the officials said, asking not to be named because they aren’t authorized to speak publicly. BYD representatives and the president’s office declined to comment.