Chinese carmaker BYD (Build Your Dreams/Shenzhen/002594) has signed an agreement with Turkey’s Ministry of Industry to build a production plant in the country’s Manisa province, the ministry said on July 8.

Turkey’s President Recep Tayyip Erdogan, as well as Turkey’s Industry Minister Fatih Kacir and BYD Chairman Wang Chuanfu, were present at the signing ceremony held in Erdogan’s Dolmabahce office in Istanbul.

Turkey’s Ministry of Industry expects BYD to invest a total of $1bn in the plant, which will have an annual electric vehicle (EV) and plug-in hybrid vehicle production capacity of 150,000 units.

The ministry also expects the plant to come online in 2026 and to employ 5,000 personnel.

BYD is the world leader in EV production, with an annual output of 3mn vehicles.

Turkey is the third largest vehicle producer in Europe, hosting production plants of leading auto manufacturers in the world. A total of 13 brands, including eight global brands, are produced in Turkey.

The country annually posts $35bn worth of auto exports. In 2024, a total of 1.4mn vehicles were produced in Turkey.

In June, Turkey imposed a 40% additional tariff on imports of vehicles from China.

Later on, an exemption was provided to the Chinese companies that have a production plant in Turkey.

On July 4, Erdogan met with his Chinese counterpart Xi Jinping on the sidelines of a Shanghai Cooperation Organization summit in Kazakh capital Astana.

In H1, EV sales in Turkey leapt 176% y/y to 39,405 units. Turkey’s government-run Togg, known as the Erdogan regime’s ‘native and national’ car project initiative, delivered 13,021 cars in the period, while Tesla Inc (Nasdaq/TSLA) sales amounted to 3,082 and BYD sold 1,426 vehicles.

Additionally, Germany-based Audi AG, Germany-based BMW (Frankfurt/BMW), Mini Cooper SE, Citroen (Stellantis/Milan/STLA), Peugeot (Stellantis/Milan/STLA), Hyundai (Seoul/005380), Jaguar Land Rover, Kia (Seoul/000270), Germany-based Mercedes-Benz (Frankfurt/DAI), Porsche (Frankfurt/P911) Taycan, Renault (Paris/RNO) Zoe, Seres (Shanghai/601127) 3, Skywell (China) ET5, Subaru (Tokyo/7270) Solterra and Volvo (Stockholm/VOLV-B) offer EV sales in Turkey.

A total of 577,981 vehicles were sold in Turkey, marking a 3.7% y/y increase, in the first six months of the year.

In 2023, the local EV market expanded by 833% y/y, with sales amounting to 72,179, accounting for 7.5% of all vehicle sales in the country.

 

Major electric vehicle investments in Turkey or by Turkish companies abroad
	Firm	Sector	Amount	Investment	Capacity	Location
2026	BYD (China)	Automotive	$1bn	Electric vehicle (EV)	0.15mn/year	Manisa
Feb-2024	Astor Enerji (ASTOR)	Automotive	€11mn	Electric vehicle (EV) charging stations	200 stations (Siemens/Frankfurt/SIE)	Turkey
Oct-2023	Dogus Sarj/D-Charge (DOASO), Egesarj, Akkoprulu, D Rect (D-Rect) Charge, AEG Madencilik, EMEA Energy Teknoloji, Obisarj, Beytturk, Maksem, 2M Elektrikli, Sarjmatik, Yigit Aku, Siyam, Charge Teknoloji	Automotive	-	Electric vehicle (EV) charging stations	-	Turkey
Jul-2023	Borenco (Borusan EnBW) - Petrol Ofisi (E-POwer)	Automotive	TRY1bn	Electric vehicle (EV) charging stations	2,000 stations	Turkey
Jun-2023	Er Elektronik, Shu ARGE, Foks Enerji, Shell & Turcas, Mod Malkarlar, Global Inovatif, Hunat Enerji	Automotive	-	Electric vehicle (EV) charging stations	Network	Turkey
Q1-2024	Skywell (Skyworth/China), Ulu Motor (Ulubaslar)	Automotive	€50mn	Electric vehicle (EV) battery plant	-	-
Apr-2023	Tesla (Nasdaq/TSLA)	Automotive	-	Electric vehicle (EV) sales services	-	Istanbul
Mar-2023	Enom, Minus Energy, Incharge, Art In Systems	Automotive	-	Electric vehicle (EV) charging stations	Network	Turkey
Mar-2023	Arcona, RST Teknoloji (RST Charge), Gersan (GEREL) Sarj (G-Şarj), Interdata, FZY Enerji (FZY Energy), Siha Enerji (Royco), Fotec, Blue Akaryakit (Petrodem), Lumhouse, Manas Iplik (Mycharge), Eskisehir Endustriyel (EEE), Atay Guc (Ecobox), Sarjplus, Bolgem Muhendislik (Bolgem Plus), Bladeco, Volnet (Volti), Promaster (Tech Care), TT/E4 Sarj (Turk Telekom/TTKOM) Ventures Proje (The Giftad), Voltgo (Voltpo)	Automotive	-	Electric vehicle (EV) charging stations	Network	Turkey
Mar-2023	Tesla (Nasdaq/TSLA), Zebra (Voltrun), Verdepunto Enerji (Ar Armaksis Ar Verdepunto), Evtech Sarj, Spur Enerji (Carbonage), Anttech (Petroo), Evcil Muhendislik, Karakuslar (Halica), Gioev (DBE Holding), Antkem, K Yatirim (K Otomotiv), Istasyon Sarj (Estasyon), ERC Sistem, RDS Gayrimenkul (Bibutton), Vitalen, Solarpark (Acikel Autosarj), Monokon, Efamoda (Cazador), Form Elektrik (Epsis), Prosarj (Getasolar), Pirim Gida, Solarsarjet (Clixolar), 360 Enerji, MCZ Teknoloji (Alaska), Tuncmatik, Bakirci E-Mobility (B-Charge)	Automotive	-	Electric vehicle (EV) charging stations	Network	Turkey
Mar-2023	Ispirli Sarj, Imaj Dizayn (Design & Network Imaj), Tripy Mobility (Waygo), Artas Enerji (Avrupakent Enerji), Arenya, Solar Arac (Solarsarj), Aydem (AYDEM) Plus (OtoWatt), Zeplin Turizm, Arsima, Konya Elektrikli (Karbon Notr Konya), Gosarj (Dynopower), Ayhan Teknoloji (Aostechnology), Forsel, Arti Kurumsal (KRNenerji), Mionti (Toger), Fortis Enerji, Green Sarj, Alfamet (Adze), Dicle Kok (Otopriz), Magicline (Magic Line), GS Mar (GSM Charge), Filoport (Onlife), ASM Dekorasyon (Onizsarj), Ultrametrik Enerji (Vale), Etco Elektrik (Kingpower), Kofteci Yusuf, Energy Sarj (Energy Enerjik), OTP Ogulturk Pano, Dogus Dijital Enerji (dgdogusgida), Logo Rental (Ak Altun), Ronesans Sarj (Ronesans Holding), Power Elektronik, Enerjiturk (Turksarj), Mir Solar Enerji (Mirsolar), Ekos Mobilite, Meis Charge, Tuvturk, Tunalar Otomotiv	Automotive	-	Electric vehicle (EV) charging stations	Network	Turkey
Sep-2022	Migen (Everstart/Migros/MGROS), Neva, Dumanoglu Enerji (Swapp), Green Watt Enerji (Greenwatt), Ozguney Elektrik (Aykon), Turuncu Muhendislik, White Rose Motor, STL Solar (Samuray), Isomer Isitma, Beefull Enerji, Meta Mobilite (BinBin Scooters), Vizyoneks Bilgi, Tora Teknik, Aksa Musteri Cozumleri, Mithra Pod Elektrik, Ozka Enerji (Plego Advertise Charge)	Automotive	-	Electric vehicle (EV) charging stations	-	-
Sep-2022	Belka (Ankara Municipality)	Automotive	-	Electric vehicle (EV)	Diesel-to-electric conversion	Ankara
Sep-2022	Otokar (OTKAR)	Automotive	-	Electric vehicle (EV) bus	-	Sakarya
Sep-2022	Anadolu Isuzu (ASUZU)	Automotive	-	Electric vehicle (EV) bus and minibus	Big.e, NovoCiti Volt	Kocaeli
Sep-2022	Temsa	Automotive	-	Electric vehicle (EV) bus	LD SB E	Adana
2024	Ford Otosan (FROTO)	Automotive	-	Electric vehicle (EV) trucks	-	Eskisehir
2022	ZES (Zorlu Enerji/ZOREN)	Automotive	-	Electric vehicle (EV) charging stations	Launched subsidiaries	Northern Cyprus, Montenegro, Romania, Albania, Macedonia, Germany, USA, Netherlands, UK, Poland, Greece
Sep-2022	Karsan (KARSN)	Automotive	-	Electric vehicle (EV) bus, hydrogen bus	-	Bursa
CANCELLED	Ford Otosan (FROTO)	Automotive	MoU (Ford (New York/F), Koc (KCHOL), LG Energy Solutions (LGES/Seoul/373220))	Electric vehicle (EV) battery plant	30-45 GWh / year	Ankara
2024	Ford Otosan (FROTO)	Automotive	€715mn	Electric vehicles (EV) (Puma (SUV), Transit Courier (Van), Tourneo Courier (Kombi))	250,000 units/year	Romania
2022	TOGG	Automotive	TRY3.5bn	Electric vehicle (EV) plant	-	Bursa
2026	Ford Otosan (FROTO)	Automotive	TRY22bn (€2bn)	Electric vehicle (EV) battery plant/Capacity expansion	0.13mn/0.21mn	Kocaeli
2022	Ford Otosan (FROTO)	Automotive	€4mn	Electric scooter (EV) production	Engines by Arcelik (ARCLK)	Eskisehir
Jul-2022	Wat Mobilite (Koc/KCHOL), Sharz (EVS), Smart (SMRTG) Gunes (Smart Solargize), Kontrolmatik (KONTR), Sarjon, Armatec, RHG, FCTR, En Yakit, Miram Enerji, Meta Mobilite, RG Enerji, Egesa Elektrik, Dicle Kok, Yeni Model Yapay Zeka (FastGo), Avos Grup, Full Elektrikli Araclar (FullCharger/Multi Force), Jetco Elektrik, Yeldegirmeni Enerji, Zey Enerji (Green Science), RST Teknoloji, Sun Ulasim, Yeni Basak	Automotive	-	Electric vehicle (EV) charging stations	Network	Turkey
Jul-2022	Trugo (Togg), ZES (Zorlu Enerji/ZOREN), Aksa Sarj (Aksa Elektrik/AKSAE), Sarjet (Oyak, Otojet, Guzel Enerji), Kalyon, CW	Automotive	-	Electric vehicle (EV) charging stations	Network	Turkey
Jul-2022	Enerjisa (ENJSA/Esarj)	Automotive	-	Electric vehicle (EV) charging stations	Network	Turkey
May-2022	Nuh Cimento (NUHCM)	Cement	ABB (Zurich/ABBN)	Electric vehicle (EV) (Diesel-to-electric conversion)	10 trucks	Ankara
Nov-2021	Kalyon Electrical Vehicle	Automotive	-	Electric vehicle (EV) battery development	Company launch	Istanbul
Nov-2021	Farasis(China)-TOGG	Automotive	-	Electric vehicle (EV) battery plant	20 GW	Bursa
Aug-2021	Eldor (Italy)	Automotive	$100mn	Electric vehicle (EV) parts plant	0.55mn unit/year	Izmir

 

Table: Major electric vehicle investments in Turkey or by Turkish companies abroad.