BYD poised to build US$1bil EV plant in Turkiye

Market leader: Workers assemble a BYD Co Dolphin compact hatchback EV inside the company’s new plant in Nikhom Phatthana, Rayong province in Thailand. The company is China’s best-selling car brand. — Bloomberg

BEIJING: Turkiye will soon unveil an agreement with BYD Co to construct a US$1bil plant in the west of the country, Turkyish officials say, boosting the Chinese carmaker’s presence in Europe at a time of escalating trade tensions.

Turkiye’s President Recep Tayyip Erdogan is expected to announce the accord today during a ceremony in Manisa province, where the plant will be built, the officials said, asking not to be named because they aren’t authorised to speak publicly.