China’s Chery to Invest $1 Billion in Turkey EV Plant
Chery setting up shop would grow the presence of Chinese carmakers in Turkey.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Chinese carmaker Chery Automobile Co. pledged to set up a $1 billion electric vehicle factory in Turkey, bolstering Ankara’s goal of becoming a regional manufacturing hub.
Turkey’s Industry Ministry announced the investment on Wednesday, confirming an earlier Bloomberg report. Chery will make EVs and components at the new facility in Samsun, which will have an annual production capacity of 200,000 vehicles.