Türkiye nears investment deal with Chinese car maker Chery
Türkiye is in final talks for a potential investment from Chinese car maker Chery, following a $1 billion deal with BYD for an electric vehicle plant. President Erdoğan recently met with Chery's president to discuss the collaboration.
- Tech
- Reuters
- Published Date: 08:50 | 01 October 2024
- Modified Date: 08:53 | 01 October 2024
Türkiye is in the final stages of talks on a possible investment by Chinese car maker Chery, a Turkish official said, as Ankara seeks to deepen its ties with Chinese car makers after reaching an investment deal with China's BYD earlier this year.
The official, who spoke on condition of anonymity, did not specify what sort of investment Chery and Ankara were discussing or whether there was a timeline for reaching a final agreement.
In July, Ankara said Chinese electric vehicle manufacturer BYD agreed to build a $1 billion production plant in Türkiye with an annual capacity of 150,000 vehicles.
Türkiye 's presidency said on Saturday that President Recep Tayyip Erdoğan had met Chery International President Guibing Zhang on the sidelines of an investment event in Istanbul. Industry and Technology Minister Mehmet Fatih Kacır also attended the talks.