Close Menu
    Facebook LinkedIn YouTube Instagram X (Twitter)
    Blue Tech Wave Media
    Facebook LinkedIn YouTube Instagram X (Twitter)
    • Home
    • Leadership Alliance
    • Exclusives
    • Internet Governance
      • Regulation
      • Governance Bodies
      • Emerging Tech
    • IT Infrastructure
      • Networking
      • Cloud
      • Data Centres
    • Company Stories
      • Profiles
      • Startups
      • Tech Titans
      • Partner Content
    • Others
      • Fintech
        • Blockchain
        • Payments
        • Regulation
      • Tech Trends
        • AI
        • AR/VR
        • IoT
      • Video / Podcast
    Blue Tech Wave Media
    Home » EV giant BYD secures $1B plant deal in Turkey
    tech-news-BYD-EV
    tech-news-BYD-EV
    Products

    EV giant BYD secures $1B plant deal in Turkey

    By Ashley WangJuly 11, 2024No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email
    • Aiming to bolster BYD’s presence outside its home market, BYD makes a $1 billion deal to build a manufacturing plant in Turkey, part of the EU’s Customs Union.
    • The plant highlights BYD’s strategic move showing its competitiveness in the race with Tesla, the world’s largest EV manufacturer.

    OUR TAKE
    BYD’s expansion has not been influenced by the restrictions posed by the US and EU. On the contrary, its growing manufacturing plants prove the company’s promising future and help increase recruitment around the world, indicating its march toward the title of the world’s top maker of battery electric vehicles.
    –Ashley Wang, BTW reporter

    What happened

    BYD, China’s leading electric vehicle manufacturer, will build a manufacturing plant in Turkey as a part of the company’s plan to expand outside its home country. According to the Turkish state news agency Anadolu, the plant will be built on a budget of $1 billion, which was formalised at an event in Istanbul. Once in use, the facility is expected to create around 5,000 jobs and start production by the end of 2026 with the aim of producing up to 150,000 vehicles annually.

    The decision to invest in Turkey is particularly notable given the recent trade tensions and tariff increases imposed on Chinese EVs in both the European Union and the United States. Last week, the EU introduced additional tariffs on Chinese EVs to protect its motor industry, adding an extra 17.4% tariff on top of the existing 10% import duty. As Turkey belongs to the EU’s Customs Union, vehicles manufactured there will avoid the new tariffs, making it a strategically advantageous location for BYD.

    Also read: Spain’s Acciona launches EV with interchangeable battery

    Also read: Why I love Tesla so much more than BYD – a (strong) personal opinion

    Why it’s important

    BYD’s expansion is not limited to Turkey. The company recently opened an EV plant in Thailand and announced plans for another factory in Hungary, another EU member. These efforts are part of BYD’s broader strategy to meet the growing global demand for new energy vehicles and to establish a strong foothold in key markets.

    This expansion is crucial as it allows BYD to circumvent increasing international trade barriers in China while boosting production capacity to compete with global EV leader Tesla. The Turkey plant represents a significant step in BYD’s ambition to become a dominant player in the global EV market.

    BYD EV Turkey
    Ashley Wang

    Ashley Wang is an intern reporter at Blue Tech Wave specialising in artificial intelligence. She graduated from Zhejiang Gongshang University. Send tips to a.wang@btw.media.

    Related Posts

    Amazon expands Australian cloud footprint with $35B plan

    July 17, 2025

    Vodafone Spain boosts margins through cost-cutting strategy

    July 17, 2025

    UK funds satellite and moon comms tech

    July 17, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    CATEGORIES
    Archives
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023

    Blue Tech Wave (BTW.Media) is a future-facing tech media brand delivering sharp insights, trendspotting, and bold storytelling across digital, social, and video. We translate complexity into clarity—so you’re always ahead of the curve.

    BTW
    • About BTW
    • Contact Us
    • Join Our Team
    TERMS
    • Privacy Policy
    • Cookie Policy
    • Terms of Use
    Facebook X (Twitter) Instagram YouTube LinkedIn

    Type above and press Enter to search. Press Esc to cancel.