An electric vehicle plant that BYD plans to build in Turkey will start operations as scheduled by the end of 2026, said Kaan Masatci, a project manager at Turkey’s presidential investment office, denying rumors that BYD is halting its major investment in the country. The manufacturing project has received all the necessary permissions and is expected to begin construction early next year at a site in Turkey’s western Manisa province, Masatci told Caixin last week, adding that another Chinese manufacturer is eager to reach a deal with the government. In July, BYD signed a deal with Turkey, part of the European Union’s Customs Union, to build a $1 billion facility capable of producing 150,000 electric cars annually, enabling it to export vehicles to Europe without additional tariffs. [Caixin]
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