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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. on electric cars from China.

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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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Ford is cutting another 4,000 jobs in Europe as it loses ground in the global EV race

Baua Electric

Ford’s announcement comes as China’s leading EV maker, BYD, is quickly catching up in global deliveries. Electrek’s Take Ford’s restructuring in Europe comes as EV leaders, like China’s BYD, continue gaining ground in the global auto market. It’s now down to two directors from nine earlier this year.

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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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BNEF: global investment in energy transition hit $500B in 2020; $139B on EVs and infrastructure

Green Car Congress

Global investment in carbon capture and storage (CCS) tripled to $3 billion, and that in hydrogen was $1.5 A geographical split of BNEF’s energy transition investment data shows that Europe accounted for the biggest slice of global investment, at $166.2 Global investment in renewable energy capacity moved up 2% to $303.5

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Stellantis, Leapmotor officially launch joint venture to sell Chinese EVs in Europe this fall

Baua Electric

The new JV, named “Leapmotor International,” will expand to sell Chinese EVs in Europe this fall, with additional markets to follow. billion stake in Chinese OEM Leapmotor. Today’s event is merely a confirmation of a launch we’ve been expecting for quite some time. We now have our answer. Source: Leapmotor International Leapmotor Intl.

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