“Middle Beiyadi to Build Factory in Turkey, Invest $1 Billion”

Construction of a factory capable of producing 150,000 units…including R&D center
Production expected to begin at the end of 2026…forecasted to create 5,000 jobs,

[Sydney=AP/Newsis] China’s BYD, the world’s largest electric vehicle manufacturer, plans to invest in building a large-scale production plant in Turkey. This photo shows a BYD store in Sydney, Australia. July 9, 2024, ‘[Seoul=Newsis] By reporter Choi Hyeon-ho = China’s BYD, the world’s largest electric vehicle manufacturer, is planning to invest in building a large-scale production plant in Turkey.’,
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, ‘According to the state-owned Anadolu Agency in Turkey on the 8th local time, Turkish authorities announced that BYD will build a factory in Turkey capable of producing 150,000 vehicles and invest a total of 1 billion dollars in building an R&D center and more.’,
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, ‘The Turkish authorities and BYD signed the contract at an event attended by Turkish President Recep Tayyip Erdogan, Turkish Minister of Industry and Technology Mehmet Fatih Kacır, and BYD Chairman Wang Chuanfu.’,
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, ‘BYD plans to start operating the factory by the end of 2026 and is expected to create 5,000 jobs in Turkey.’,
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, ‘On that day, Turkey announced that it would increase the tariff on Chinese imported vehicles by 40% to increase the market share of domestically produced goods and encourage investment. Earlier, the European Union also announced on the 5th that it would impose tariffs of up to 40% or more on Chinese electric vehicles.’,
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, ‘Meanwhile, another Chinese automobile manufacturer, SWM, has reportedly applied to the authorities to build a production plant in Turkey.’,
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