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Turkey in advanced talks with China's BYD, Chery for EV plants, Bloomberg News reports
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Turkey is in advanced discussions with Chinese electric car makers BYD and Chery Automobile for factory investments in the country, Industry Minister Fatih Kacir said in an interview to Bloomberg News on Friday.
The Yangwang U8 is a luxurious SUV from BYD © Mena Today
Turkey is in advanced discussions with Chinese electric car makers BYD and Chery Automobile for factory investments in the country, Industry Minister Fatih Kacir said in an interview to Bloomberg News on Friday.
The development comes as the European Commission is investigating whether fully-electric cars manufactured in China were receiving distortive subsidies and warranted extra tariffs.
"We would like to complete the talks as soon as possible. We have come a long way with both of them," Bloomberg quoted Kacir as saying, adding that separate negotiations with SAIC Motor which owns MG Motor, and Great Wall Motor are also underway.
BYD, Chery and Great Wall Motors did not immediately respond to a Reuters' request for comment, while SAIC could not be immediately contacted.
"There is significant interest by global brands for the production of electric cars in Turkey. Turkey's membership in the European Union's customs union is still a big advantage for many global brands," Kacir had previously said.
Turkey in 2023 had imposed a 40% additional tariff on imports of electric vehicles from China.
Reporting by Utkarsh Shetti and Mrinmay Dey
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