Chery Automobile plans $1 billion EV plant investment in Turkey

Investing.com -- Chery Automobile Co Ltd, a Chinese carmaker, is expected to invest approximately $1 billion in an electric vehicle plant in Turkey. This move aligns with Ankara’s goal to become a regional manufacturing hub, according to a Bloomberg report on Wednesday.

The Industry and Technology Ministry of Turkey is currently in discussions with Chery regarding the construction of a manufacturing plant near the Black Sea port city of Samsun. The proposed plant is planned to have a production capacity of 200,000 vehicles per year, the report added.

The potential investment by Chery Automobile Co Ltd would significantly contribute to Turkey’s ambition to become a regional center for manufacturing. The proposed plant, with its substantial annual production capacity, would further bolster this ambition. However, as the talks are ongoing and private, further details are yet to be disclosed.

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