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 with Bloomberg News on Friday.
This development coincides with the European Commission’s investigation into whether fully-electric cars manufactured in China are receiving distortive subsidies, potentially leading to extra tariffs.
“We would like to complete the talks as soon as possible. We have come a long way with both of them,” Kacir told Bloomberg, 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 stated.
In 2023, Turkey imposed a 40% additional tariff on imports of electric vehicles from China.