President Recep Tayyip Erdoğan announced that the Chinese automaker Chery was nearing the final stages of its plans to establish an automobile factory in Samsun. Chery aims to increase its production capacity for electric and hybrid vehicles in Turkey, with an expected investment of over $1.5 billion and an annual production of nearly 150,000 units.
Following the Cabinet meeting, President Erdoğan made significant statements. According to CNBC-e, Erdoğan revealed that the Chinese car brand Chery was preparing to lay the foundation for its investment in Samsun.
Erdoğan also reminded that another Chinese automotive giant, BYD, would invest $1 billion in Manisa, stating, "Another Chinese company has completed its investment in Samsun. We will soon lay the foundation for this brand."
Design competition to be held
The Samsun Chamber of Commerce and Industry has begun efforts to identify human resources for design. An automobile design competition will be held with the participation of the business world.
Prices expected to decrease
Chery, which has recently attracted attention with its models in the SUV segment, has some of the most preferred models in Turkey, including Tiggo 8 Pro, Tiggo 7 Pro, Tiggo 4 Pro, and Omoda. With the start of production by Chinese brands like Chery, which offer electric and hybrid technologies at competitive prices, it is expected that prices will decrease in Turkey. Domestic brands will also be exempt from additional customs duties.
