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BYD gets the green light for EV plant in Turkey despite ‘risks’ overseas

Baua Electric

China’s largest EV maker, BYD , is charging ahead with its plans to open a new plant in Turkey. BYD’s EV plant in Turkey will continue despite China’s recent warning of the risks of investing overseas. According to Turkish industry ministry sources on Thursday, BYD’s investment in Turkey will proceed without any issues.

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BYD poised to build $1 billion EV plant in Turkey amid rising trade tensions

Baua Electric

By: Bloomberg | Updated on: 07 Jul 2024, 08:12 AM Turkey is set to unveil an agreemeent with BYD Co. to build a one billion dollar plant that will improve the Chinese EV maker's access to the European bloc amid rising trade tensions --> Turkey is set to unveil an agreemeent with BYD Co.

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BYD is building a massive $1 billion EV plant in Turkey as global expansion accelerates

Baua Electric

BYD signed a deal to build a massive $1 billion EV plant in Turkey on Monday. Turkey’s President, Recep Tayyip Erdogan, is expected to officially announce the deal on Monday. Update 7/8/24 : BYD signs the deal for its new EV plant in Turkey, creating up to 5,000 jobs and a new foothold in Europe. on electric cars from China.

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BYD closes in on huge $1 billion EV plant in Turkey as global expansion accelerates

Baua Electric

BYD is closing in on a deal to build a massive $1 billion EV plant in Turkey. Turkey’s President, Recep Tayyip Erdogan, is expected to officially announce the deal on Monday. BYD’s new plant could help it overcome the potential impacts of new EU tariffs on Chinese EV imports. FTC: We use income earning auto affiliate links.

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China discourages local automakers from building EV plants overseas

Teslarati

China’s Ministry of Commerce discouraged Chinese automakers from investing overseas. In July, the Ministry of Commerce told Chinese automakers not to invest in India and “strongly advised” against investments in Russia and Turkey. The policy attracted big names in the global auto industry, including Tesla and Hyundai.

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BYD considers investing in India

Teslarati

However, the Chinese EV automaker waits for the Indian government to ease strict investment rules on Chinese businesses. The top Chinese automaker has invested $200 million in India so far. In July, the Chinese government told local automakers, including BYD, SAIC, and GEELY, to avoid investing in India.

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Toyota sales slide as aggressive price cuts by BYD, Chinese EV makers take effect

Baua Electric

Toyota’s sales decline in Asia comes as Chinese EV makers, including BYD’s aggressive price cuts , are squeezing foreign automakers out of the market. With other affordable EVs, like the Dolphin and Atto 3, rolling out in overseas markets, BYD is quickly gaining market share in key auto markets like Thailand, Indonesia, and Latin America.

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