Türkiye expects more Chinese electric vehicle manufacturers to invest in the country following BYD’s decision to invest $1 billion in an electric vehicle and plug-in hybrid factory, said Burak Daglioglu, head of the Presidential Investment Office, in an interview with Nikkei Asia.
Asked about investments by Chinese EV manufacturers, including Chery Automobile and SAIC Motor, Daglioglu said: “Negotiations with several Chinese EV companies are going positively. I would not be surprised to hear positive results in the coming quarters.”
Earlier, Chery’s local unit Chery Türkiye and a local MG distributor owned by SAIC announced investment talks with Turkish authorities.
The Turkish government announced part of a $30 billion stimulus package in July, including grants and tax breaks for sectors such as electric vehicles, batteries, chips and renewable energy equipment.
Daglioglu expects half of the investment in such high-tech sectors to come from foreign direct investors and their joint ventures with local partners.
Ankara is also in talks with other foreign companies to invest in sectors such as chemicals, machinery, energy equipment, food and beverages, he said. “BYD’s billion-dollar investment will reassure other investors that everything is back to normal in terms of macroeconomic indicators,” he said.
