After BYD, Chinese Chery is also waiting in line to invest in Turkey!
After BYD, another China-based car manufacturer Chery is also preparing to invest in Turkey!
Following the 1 billion dollar investment of BYD, one of China’s largest automotive giants, another Chinese automobile brand Chery has reportedly made significant progress in its investment plans for Turkey. Details in the news.
Turkey Will Be Chery’s Gateway to Europe
For those who don’t know, just last month, Chinese automobile manufacturer BYD launched a 1 billion dollar investment project in Turkey and announced that it would build a new production facility in Manisa with a capacity of 150 thousand vehicles. Now, another China-based automotive giant Chery is allegedly waiting in line for a similar project.
According to sources close to the company, the brand, which resumed operations in Turkey last year, is in the final stages of signing a major investment agreement with Turkey.
The company, which sold the third most cars in Turkey in July, aims to strengthen its growth in the market with the new investment project and to export more to Europe and other nearby markets through Turkey.
New Factory Project to be finalized in September
According to reports, the choice of the location for the Chery Turkey factory and Chery’s demand for concessions for internal combustion vehicles are the main reasons for the protracted negotiations. In particular, Turkey is said to want to offer incentives for hybrid and electric vehicles, battery technologies and green investments, rather than offering an incentive package or concession for internal combustion vehicles.
If we talk about the location of the production facility, it is claimed that Chery’s location preference may be Samsun. Halit Doğan, Mayor of Samsun Metropolitan Municipality, said that Chery came to Samsun recently and made examinations on the subject. However, it is among the current rumors that Manisa is also among the alternatives for the factory. Officials expect the process to be finalized in September.
