BYD investment ‘to have catalyst effect’

The reverberations continue from the world's largest electric vehicle manufacturer BYD choosing Türkiye for its investment after Hungary. This investment, the first of its kind in 27 years, is expected to have a ripple effect on other Chinese manufacturers who have long been in talks with Türkiye.

"There were many manufacturers from China and other countries who had question marks about investing in Türkiye," Albert Saydam, president of the Turkish Association of Automotive Parts and Components Manufacturers (TAYSAD), told Hürriyet.

"The BYD investment has removed many of those question marks. It will undoubtedly have a catalytic effect," he added.

Saydam emphasized that BYD is a global brand sought after by European countries to draw investment.

"There is a two-phase process. In the first stage, an area of 1.6 million square meters is being considered in Manisa," he said.

"It is a brand that aims for leadership in the world and has many strengths. As the Turkish automotive supply industry, we will do our part to make their European story a success."

The factory to be built will also create opportunities for Turkish companies, Saydam noted.

"The first opportunity is to directly supply goods as a supplier," he added.

"The second is to understand their technology and see what the opportunities are for us, what is open to development. With this, different foreign investors will also come."

Saydam said that the collaboration between BYD and the local companies will be very important.

"There is a lot of work to be done," he added.

"We can produce more than 50 percent of electric vehicles in Türkiye. Let's say these vehicles are in the $30,000 range with a simple calculation. Approximately 70...