BYD Inks Deal for $1 Billion Turkey Plant as Europe’s EV Tariffs Loom

(Bloomberg) — BYD Co. Ltd., one of the world’s largest electric vehicle manufacturers, has signed a deal with Turkey to build a factory, a move that could bolster the Chinese automaker’s foothold in Europe.

The deal involves BYD investing about $1 billion in the plant, which will produce 150,000 electric and hybrid vehicles annually and include a research and development center.