The global electric vehicle (EV) , several prominent Chinese automobile manufacturers BYD and Chery are currently in advanced negotiations to establish production facilities in Türkiye. This strategic initiative marks a significant milestone in Türkiye's burgeoning automotive industry and underscores the nation's growing prominence in the EV market.
Sources close to the negotiations reveal that multiple Chinese automakers, renowned for their expertise in electric vehicle technology, are eyeing Türkiye as a prime location for expanding their manufacturing footprint. Türkiye lies in its strategic geographic position, robust infrastructure, and burgeoning renewable energy sector, which are pivotal factors for sustainable and efficient EV production.
The proposed ventures aim to capitalize on Türkiye's skilled workforce, competitive operational costs, and favorable investment climate, positioning the country as a pivotal hub for EV manufacturing and exportation. Moreover, this collaboration is poised to foster technology transfer and knowledge exchange, driving innovation and enhancing Türkiye's automotive ecosystem.
These potential investments could significantly boost the companies’ sales to Europe. Minister of Industry and Technology, Fatih Kacir, expressed optimism about completing the talks soon, emphasizing Türkiye’s strategic position as a gateway to the European Union. With its customs union agreement with the EU, Türkiye provides an ideal base for exports. Additionally, the country’s domestic electric vehicle (EV) market is growing rapidly, with EVs accounting for 7.5% of all car sales in 2023. The national energy market regulator predicts a substantial increase in EV adoption by 2025.
Comments
No comment yet.