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China's EV Giant, BYD, Invests $1B In Turkish Plant | RJR News - Jamaican News Online

China's EV giant, BYD, invests $1B in Turkish plant

2:08 pm, Tue July 9, 2024

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China's biggest electric car maker, BYD, has agreed to a $1 billion deal to set up a manufacturing plant in Turkey as it continues to expand outside its home country.

The Turkish state news agency Anadolu said the new plant will be able to produce up to 150 thousand vehicles a year.

The facility is expected to create around 5,000 jobs and start production by the end of 2026.

The deal was signed at an event in Istanbul attended by President Recep Tayyip Erdogan and BYD's chief executive Wang Chuanfu.

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