On July 8, BYD signed an agreement with the Turkish Ministry of Industry and Technology to invest and build a factory in Turkey. BYD will invest about $1 billion to build a factory and R&D center with an annual production capacity of 150,000 vehicles. The factory is scheduled to start production at the end of 2026 and will provide jobs for up to 5,000 workers. This will avoid Turkey's additional 40% tariff on Chinese electric vehicles and the additional tariffs planned by the European Union.A week ago, BYD's Thailand factory (150,000 vehicles/year) was officially completed. In addition, the Brazilian factory (150,000 vehicles/year) is scheduled to start production in the second half of this year; Indonesia (150,000 vehicles/year) and Hungary (200,000 vehicles/year) have signed agreements and will start construction within the year. At the same time, in Mexico, BYD's factory construction plan has also entered the critical stage of site selection negotiations. And plans to establish an automobile assembly base in Peru. (ICE PECHINO)

Fonte notizia: Xinhua News, Caixin News