Chinese EV giant BYD to build $1 billion plant in Turkey

Chinese EV giant BYD to build $1 billion plant in Turkey

China’s BYD, which vies with Tesla for the title of the world’s top maker of battery electric vehicles, has agreed to build a $1 billion car factory in Turkey, the Turkish government has announced. BYD’s CEO Wang Chuanfu and Turkey’s Industry and Technology Minister Mehmet Fatih Kaci signed the agreement in Istanbul, according to a statement from the Turkish ministry Monday. Turkish President Recep Tayyip Erdogan attended the signing ceremony, it said. “We aim to meet the growing demand for …