Türkiye pledges $30 billion under high-tech incentive program
President Recep Tayyip Erdoğan on Friday unveiled a program pledging billions of dollars in incentives as part of a road map he says aims to place Türkiye among high-tech attraction centers worldwide.
The $30 billion incentive package focuses on attracting investments in electric vehicles, battery production, semiconductor manufacturing and energy technology; Erdoğan told the event to present the High Technology Incentive Program (HIT-30) in Istanbul.
The announcement comes just weeks after Chinese electric vehicle manufacturer BYD agreed to build a $1 billion production plant in Türkiye with an annual capacity of 150,000 vehicles.
“We have paved the way for global automotive firms and other large-scale vehicle manufacturers to direct their electric vehicle investments to Türkiye,” Erdoğan said.
BYD’s electric and rechargeable hybrid car production facility, which is planned to start production in Manisa province at the end of 2026, is envisaged to directly employ up to 5,000 people.
BYD is currently the largest EV producer in the world.
“We are continuing our talks with other companies as well,” Erdoğan said.
He pledged continuous support for critical technologies that “will strengthen our economic and technological independence.”
In the automotive sector, the new program features the launching of a $5 billion incentive package to increase the country’s production capacity to at least 1 million units annually, said the president.
“With our battery initiative, we aim to build a capacity of 80 gigawatt-hours by 2030, establishing ourselves as a regional production hub,” he noted.
“We are offering a $4.5 billion incentive package, including grants of up to $6,000 per megawatt-hour, for battery production.”
The program envisages a $5 billion incentive to establish a chip factory.
Goal to attract $20 billion in investment
Erdoğan said the government aims to attract at least $20 billion in private sector investment to Türkiye, which he says will significantly contribute to the nation’s development journey.
“Through the HIT-30 Program, we will direct a total of $30 billion, comprising tax incentives and grant support, to high-tech investments,” he said.
For solar energy, Erdoğan said they will provide grant support of up to $8,000 per megawatt for cell investments, aiming to establish a capacity of 15 gigawatts.
“We will provide $2.5 billion in grant support for cell facilities aimed at a 15 GW capacity in solar energy, and we have allocated $1.7 billion for the manufacturing of critical components in wind energy,” said the president.
He also announced that Türkiye would meet half of the personnel expenses of new research and development (R&D) centers to be established in the country by the world’s top 1,000 companies for five years.
Türkiye has established 10 model factories guiding the productivity-oriented transformation of the industry.
“We will increase this number to 14 by adding four new model factories,” said the president.
Erdoğan said the recent data on the Turkish economy showed “we are on the right path.”
“The Turkish economy is undergoing a multifaceted transformation. Confidence in Türkiye and the Turkish economy is rising. We are taking the necessary steps to improve our investment environment,” he noted.
“When the cloud of uncertainty affecting the entire world, including developed countries, dissipates, Türkiye will be the forward of the new era.”
