ISTANBUL: China's electric vehicle giant BYD on Monday (Jul 8) signed a one-billion-dollar agreement with Türkiye to open a plant in the country in a move that would help it dodge new EU tariffs.
ISTANBUL: China 's electric vehicle giant BYD on Monday signed a one-billion-dollar agreement with Türkiye to open a plant in the country in a move that would help it dodge new EU tariffs.
Turkish-made cars enjoy beneficial access to the EU under a customs union that dates to 1995 and the Marmara region around Istanbul has become one of the leading centres of the world's automobile industry. "Indeed, this will be an investment for the Turkish market but especially European market, by circumventing the customs tariffs imposed on vehicles of Chinese origin," he said.
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