Another Chinese automobile firm to invest into Türkiye, president announces | Turkey Economy

A Chinese automobile company will invest in Türkiye’s northern province of Samsun, President Recep Tayyip Erdogan announced on Monday.

“A Chinese company is investing in Samsun, has completed its preparations, and we will see the foundations of this brand being laid in Samsun in a short time,” he said after a Cabinet meeting in the capital Ankara.

“In our Cabinet meeting held today, we discussed the 2030 industrial and technology strategy that will strengthen our country’s independence in industrial production and technology,” he added.

Türkiye is increasingly becoming a hub for Chinese automakers’ investments.

Last July, China’s BYD, the world’s largest electric vehicle producer, signed an agreement with the Turkish Industry and Technology Ministry to set up a factory and make R&D investments in Türkiye worth $1 billion.

The firm’s production and R&D plants are expected to create 5,000 jobs in the country and produce around 150,000 units of vehicles annually.

Turkish Industry and Technology Minister Mehmet Fatih Kacir said last October: “BYD will begin production in 2026, and the agreements have been signed. The allocation process for the site at Manisa Organized Industrial Zone (OSB) has been completed. Permit applications for the factory’s construction have been submitted,” he said.