BYD-Türkiye deal remains valid, ministry says

ANKARA

Türkiye’s Industry and Technology Ministry has said its investment agreement with Chinese electric vehicle maker BYD remains in force, including the company’s obligations and guarantees submitted to the state.

The ministry’s assessment came after delays in the company’s planned production facility in the western province of Manisa, according to information obtained by Anadolu Agency from ministry officials.

BYD had earlier announced plans to establish a plant in Türkiye with an annual production capacity of 150,000 vehicles. Land allocation procedures in Manisa were completed after the company made the required payment, and the investment process began.

Officials said the company’s access to incentives was suspended by the ministry at the beginning of 2026 after the planned progress in the investment was not achieved.

The investment agreement, its conditions, BYD’s obligations and the guarantees submitted by the company remain valid, the officials said.

The ministry is continuing the process in line with official procedures and relevant legislation.

Under the rules, companies that fail to complete their investments are required to repay incentives they have received, in line with their commitments and guarantees.

Officials said no domestic or foreign company was subject to discrimination, adding that the same rules applied to all investors and that public interests were secured throughout the process.