Following BYD’s $1 billion investment decision, Turkey is very close to attracting an even larger automotive investment from China. “We are about to reach an agreement with another Chinese automotive manufacturer for an investment exceeding 1 billion dollars,” Kaan Masatçı, Project Manager of the Presidential Investment Office, told the Chinese press. According to information obtained by Hürriyet from sources in the automotive sector, this time the investment will come from the Chery brand.
According to a report by Taylan Özgür Dil from Hürriyet Newspaper, Chinese automotive giants, which have accelerated their plans to expand into Europe with the electric vehicle transformation, continue their close contacts with Turkey. On the one hand, preparations are underway for the land in Manisa Organized Industrial Zone in Manisa’s Yunus Emre district, where BYD will start factory construction, and on the other hand, the final stages have been reached for different Chinese automotive manufacturers to invest in Turkey.
Another remarkable news appeared in the Chinese press regarding another Chinese automotive manufacturer about to announce an investment in Turkey. Kaan Masatçı, Project Manager of the Presidential Investment Office, told Caixin, one of China’s leading financial magazines, that another Chinese automotive manufacturer is about to reach an agreement on an investment in Turkey worth more than $1 billion. According to information obtained by Hürriyet from sources close to the sector, Chery will be the Chinese brand that will invest more than 1 billion dollars in Turkey.
The Chinese automotive company Chery, which has been in contact with the authorities to establish a production facility in Turkey for a long time, had given another important signal about the investment in October. In a presentation to members of the media in China, Chery International President Zhang Guibing included Turkey, along with Italy and Spain, among the production bases they planned for Europe. Meanwhile, Chery International President Zhang Guibing had a private meeting with President Recep Tayyip Erdoğan in Istanbul a few months ago, in a meeting attended by Minister of Industry and Technology M. Fatih Kacır.
