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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. on electric cars from China.

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

Baua Electric

Toyota’s global sales fell over 5% last month, partly driven by the impact of BYD’s price cuts in key markets like China, Southeast Asia, and even Japan. Toyota blamed the fallout on the “challenging market environment” and “intensified price competition” in the region. The Chinese EV maker is now No. from June 2023.

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BYD overcomes China’s intense EV price war as record car sales lead to Q2 profit surge

Baua Electric

Despite slashing prices and launching more affordable EVs, BYD’s bottom line nearly doubled from the first three months of 2023 (+98%). Despite the profit growth, BYD’s gross margins slipped 3% from Q1 (21.88%) to 18.69% amid China’s intensifying EV price war. The EV leader posted revenue of RMB 176 billion ($24.7 billion) in Q4 2023.

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Chinese-made cars account for one in five BEV sales in February in Europe | Autocar Professional

Baua Electric

Chinese-made cars drive growth In Europe, sale of cars made in China saw the highest levels of year-on-year growth in February 2024 (+45%) and in January-February 2024 (+43%). As a result, cars made in China outsold cars made in Italy, Korea, Morocco, and Romania, while also closing the gap between cars made in Turkey and the UK.

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