Gold from Erdogan – 5 billion euros to dominate the world of cars

Turkish President offers land and water to automakers to invest in the country and make it a leading power in the world of four-wheel drive.

Amount of order 30 billion euroswhich consists of tax incentives and subsidies, will be provided by the Turkish President. Ok Erdogan, For promotion High technology investments.

To get out of this 5 billion euros She will care Boosting the local automotive industryso that the country can increase its annual production capacity to no less than million vehicles, As the Turkish President stated during the presentation of the High Technology Incentive Program (HIT-30) in Istanbul on Friday, July 26.

As Erdogan announced, the government has already paved the way for major electric car manufacturers to arrive in the country.

A typical example is BYD China who goes to 1 billion euro investment To establish a factory in Manisa city east of Izmir.

The plant, which is expected to start production in 2026, will create 5,000 jobs, while it includes Annual capacity 150,000 vehicles, With BYD also setting up an R&D center in the same area.

With the new plant, BYD will have easier access to the European Union, with which Turkey has a customs union agreement. In this way, BYD will not be affected by tariff hike on Chinese-made electric vehicles Up to 48% was announced by the EU last week. The exemption from the additional duties will give BYD models a significant price advantage.

At the same time, Türkiye wants to become The leading regional power in the battery manufacturing industry, In this context, incentives worth 4.5 billion euros will be provided to investors.

In addition, Ankara will cover half of the staff costs of new centers to be established in the country by the world’s top 1,000 companies in terms of research and development;

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