Chinese-Turkish Cooperation in Electric Vehicle Manufacturing | Major Deals on the Horizon
Chinese-Turkish Cooperation in Electric Vehicle Manufacturing | Major Deals on the Horizon
Expected Investments
Turkey is expected to receive significant investments from giant Chinese electric vehicle manufacturers such as BYD and Chery, according to a Bloomberg report.
Progress in Talks
The Turkish Minister of Industry and Technology expressed optimism about the talks, noting substantial progress and aiming to conclude them as soon as possible.
Importance of Investment
These investments are of strategic importance to both sides, as they are expected to facilitate access to European markets and enhance trade relations.
Impact of Trade Agreements
The investment in Turkey is expected to contribute to strengthening trade relations with the European Union, according to trade agreements in place.
Strategic Expansion
The potential step to build electric car factories in Turkey is part of larger expansion plans for Chinese companies in the European market.
Future Expectations
The percentage of electric vehicles in the Turkish market is expected to rise, making this investment more attractive to Chinese companies and international investors.
Export Capabilities and Economic Benefits
Turkey’s Role as an Export Hub
Data from the agency indicates that Turkey’s advanced automotive industry, and its role as the largest vehicle exporter to Europe, make it a significant base for exports to the European Union, amounting to $35.7 billion in 2023.
Investment Opportunities for Chinese Companies
The Turkish Minister of Industry and Technology, Kajer, pointed out additional benefits that Chinese companies could gain, such as “unique opportunities for battery investments,” which analysts consider a significant factor in the development of the electric vehicle sector in Turkey.
Enhancing Turkey’s Global Role in Automotive Industry
These investments are expected to enhance Turkey’s role in the global automotive sector, as well as support the growth of TOGG, the first Turkish local company to manufacture electric vehicles in the country.
Battery Factory Construction Project
TOGG, in collaboration with the Chinese company Farasis Energy, is working on building a battery factory in the Turkish city of Bursa, a joint project aimed at developing technology and enhancing Turkey’s capabilities in electric vehicle manufacturing.
Real Estate and Investment in Turkey:
- in Turkey, we invite you to explore the world of unique investment opportunities offered by our company.
- If you dream of owning property in this beautiful country and obtaining Turkish citizenship, our expert real estate team is ready to fulfill this dream for you.
- We promise to provide you with valuable advice and unparalleled offers. You can rely on our expertise and legal services for a safe investment experience, ensuring a successful and sustainable investment journey.
- Feel free to submit your request now, as our real estate consultants will contact you to provide comprehensive answers to all your inquiries and offer the best available deals.
- Our services extend from pre-purchase to post-property ownership, always aiming to provide a worry-free and comfortable experience.
- Don’t miss the opportunity to inquire about the latest decisions regarding real estate ownership in Turkey and obtain Turkish real estate residency and citizenship.
- Immerse yourself in our projects, and browse through the residential apartments, villas, and commercial properties available for investment.
- We are here to make your dream a reality and look forward to being the ideal partner in your fruitful investment journey in the Turkish real estate market.
