Page 14 - RusRPTAug24

14 I Companies & Markets bne August 2024
Chinese electric vehicle maker BYD signs agreement to build $1bn production plant in Turkey
Ben Aris in Berlin
Chinese carmaker BYD (Build Your Dreams/ Shenzhen/002594) has signed an agreement with Turkey’s Ministry of Industry to build a production plant in the country’s Manisa province, the ministry said on July 8.
Turkey’s President Recep Tayyip Erdogan, as well as Turkey’s Industry Minister Fatih Kacir and BYD Chairman Wang Chuanfu, were present at the signing ceremony held in Erdogan’s Dolmabahce office in Istanbul.
Turkey’s Ministry of Industry expects BYD to invest a total of $1bn in the plant, which will have an annual electric vehicle (EV) and plug-in hybrid vehicle production capacity of 150,000 units.
The ministry also expects the plant to come online in 2026 and to employ 5,000 personnel.
GDP Distribution by Sector in Selected Countries
BYD is the world leader in EV production, with an annual output of 3mn vehicles.
Turkey is the third largest vehicle producer in Europe, hosting production plants of leading auto manufacturers in the world. A total of 13 brands, including eight global brands, are produced in Turkey.
The country annually posts $35bn worth of auto exports. In 2024, a total of 1.4mn vehicles were produced in Turkey.
In June, Turkey imposed a 40% additional tariff on imports of vehicles from China.
Later on, an exemption was provided to the Chinese companies that have a production plant in Turkey.
2026
Oct-2023
Q1-2024
Mar-2023
Mar-2023
BYD (China)
Dogus Sarj/D-Charge (DOASO), Egesarj, Akkoprulu, D Rect (D-Rect) Charge, AEG Madencilik, EMEA Energy Teknoloji, Obisarj, Beytturk, Maksem, 2M Elektrikli, Sarj- matik, Yigit Aku, Siyam, Charge Teknoloji
Skywell (Skyworth/China), Ulu Motor (Ulubaslar)
Enom, Minus Energy, Incharge, Art In Systems
Tesla (Nasdaq/TSLA), Zebra (Voltrun), Verdepunto Enerji (Ar Armaksis Ar Verdepunto), Evtech Sarj, Spur Enerji (Carbonage), Anttech (Petroo), Evcil Muhendislik, Karakuslar (Halica), Gioev (DBE Holding), Antkem, K Yatirim (K Otomotiv), Istasyon Sarj (Estasyon), ERC Sistem, RDS Gayrimenkul (Bibutton), Vitalen, Solarpark (Acikel Autosarj), Monokon, Efamoda (Cazador), Form Elektrik (Epsis), Prosarj (Getasolar), Pirim Gida, Solarsarjet (Clixolar), 360 Enerji, MCZ Teknoloji (Alaska), Tuncmatik, Bakirci E-Mobility (B-Charge)
Automotive $1bn
Automotive -
Automotive €50mn
Automotive -
Automotive -
Feb-2024
Jul-2023
Apr-2023
Mar-2023
www.bne.eu
Firm
Astor Enerji (ASTOR)
Borenco (Borusan EnBW) - Petrol Ofisi (E-POwer)
Tesla (Nasdaq/TSLA)
Arcona, RST Teknoloji (RST Charge), Gersan (GEREL) Sarj (G-Sarj), Interdata, FZY Enerji (FZY Energy), Siha Enerji (Royco), Fotec, Blue Akaryakit (Petrodem), Lum- house, Manas Iplik (Mycharge), Eskisehir Endustriyel (EEE), Atay Guc (Ecobox), Sar- jplus, Bolgem Muhendislik (Bolgem Plus), Bladeco, Volnet (Volti), Promaster (Tech Care), TT/E4 Sarj (Turk Telekom/TTKOM) Ventures Proje (The Giftad), Voltgo (Voltpo)
Sector
Automotive
Automotive
Automotive
Automotive
Amount
€11mn
TRY1bn
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