Turkey Expected to Unveil $1 billion EV Plant With China’s BYD

(Bloomberg) — Turkey will soon unveil an agreement with Chinese electric vehicle (EV) maker BYD Co. Ltd. for the construction of a $1 billion plant in the west of the country, Turkish officials said.

Recep Tayyip Erdogan, the Turkish President, is expected to announce the deal on Monday during a ceremony in the central Turkish province of Manisa, where the plant will be built, the officials said. BYD, China’s best-selling EV brand, and the Turkish presidency declined to comment.