Mehmet Şimşek, the Minister of Treasury and Finance, made a statement saying, "Global-scale major companies prefer our country for their investments in electric vehicles, batteries, and logistics."
In his statement on X (formerly Twitter), Şimşek shared the following:
"Between 2003 and June 2024, a total of 266.9 billion dollars in direct investments were made in our country.
The share we received from global direct investments, which was 0.2% before 2003, increased to 0.9% during the 2003-2023 period.
Our goal in our International Direct Investment Strategy is to raise this share to 1.5% by 2028. With our program's policies focused on twin transformation and high-value-added production, we will turn our country into an even larger production hub, increasing our growth potential and the welfare of our citizens."
1 Billion Dollar Investment from Chinese Electric Car Manufacturer BYD in Turkey
Recently, the Ministry of Industry and Trade and the Chinese company BYD, the world's largest electric car manufacturer, signed a 1 billion dollar investment agreement.
Under the investment agreement, BYD will establish an electric car production facility with an annual capacity of 150,000 vehicles and a research and development (R&D) center in Turkey. It is stated that the facilities to be established in Turkey will provide direct employment to 5,000 people.
On the other hand, Ganfeng Lithium, one of the world's largest lithium battery manufacturers, plans to invest $500 million in Turkey in partnership with Yiğit Akü (IST: YIGIT). This investment includes establishing a lithium battery production facility with an annual capacity of 5 GWh in Turkey and an incentive application under the HIT-30 program. The investment aims to enhance Turkey's energy storage capacity and connect with global markets.
