BYD to build $1B plant in Turkey, bypassing EU tariffs
Turkey is set to announce a $1 billion deal with BYD to build a plant in Manisa, enhancing the Chinese carmaker’s access to Europe amid new EU tariffs on Chinese EV imports. President Erdogan will reveal the agreement, which benefits from Turkey’s customs-union with the EU. Domestically, EVs are gaining popularity, accounting for 7.5% of Turkey's car sales last year. Turkey reversed plans for a 40 percent tariff on Chinese vehicles to encourage investment, following Erdogan's talks with President Xi Jinping.