BYD’s Expansion and Investment in Turkey

BYD, China’s largest electric vehicle manufacturer, has sealed a significant deal to establish a $1 billion manufacturing plant in Turkey, marking a major step in its global expansion strategy. The plant, expected to commence operations by the end of 2026, will have the capacity to produce up to 150,000 vehicles annually, contributing to Turkey’s economy by creating approximately 5,000 jobs.

The agreement, signed in Istanbul with the presence of President Recep Tayyip Erdogan and BYD’s CEO Wang Chuanfu, underscores BYD’s commitment to bolstering its presence beyond China amidst increasing regulatory challenges in markets like the European Union and the United States. These challenges include heightened tariffs on Chinese electric vehicles imposed by both regions, prompting BYD to seek strategic manufacturing locations like Turkey, which benefits from the EU Customs Union.

BYD’s move into Turkey follows recent announcements of expanding operations into Europe with a new plant in Hungary and into Southeast Asia with its first factory in Thailand. These expansions are part of BYD’s broader strategy to diversify its production footprint and mitigate international trade risks.

As BYD continues to navigate global markets and expand its manufacturing capabilities, the company remains a key player in the electric vehicle sector, ranking as the world’s second-largest EV company behind Tesla.