Türkiye to build a Chinatown to bypass EU tariffs
26 November 2024
The Chinese automaker BYD plans to create a residential area in Manisa, Türkiye's Aegean region, for at least 3,000 Chinese families supporting its new factory. The $1 billion investment includes a plant to produce 150,000 electric and hybrid vehicles annually, along with a research centre for sustainable mobility.
The factory, set to start production by 2026, will directly employ up to 5,000 people. This investment comes while China-EU trade relations are tense. Earlier this year, the EU imposed a 35% tariff on Chinese-made electric vehicles, which prompted BYD to fast-track its plans in Türkiye.
 | Yakup Can Yargıç BYD wants to capture Türkiye's price-sensitive market, targeting daily sales of over 100 vehicles by the end of the year. More importantly, Türkiye's customs agreement with the EU offers a unique opportunity for China: the company can assemble vehicles locally and export them to Europe without incurring additional costs, effectively bypassing EU tariffs. |
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