Talks with China’s Chery for Türkiye investment in final stages: Official

Türkiye is in the final stages of discussions regarding a potential investment by Chery, an official said on Tuesday, as Ankara aims to strengthen its ties with Chinese carmakers following an investment agreement with China’s BYD earlier this year.

The official, who spoke to Reuters on condition of anonymity, did not specify what sort of investment Chery and Ankara were discussing or whether there was a timeline for reaching a final agreement.

In July, Ankara said Chinese electric vehicle manufacturer BYD agreed to build a $1 billion production plant in Türkiye with an annual capacity of 150,000 vehicles.

Türkiye’s Presidency said on Saturday that President Recep Tayyip Erdoğan had met Chery International President Guibing Zhang on the sidelines of an investment event in Istanbul. Industry and Technology Minister Mehmet Fatih Kacir also attended the talks.

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