Chinese automaker BYD has put a factory it planned to build in Türkiye on hold while it focuses on production in Europe, a top executive said on Tuesday.
BYD said in 2024 it would invest $1 billion to build a plant in Türkiye that would start production this year.
China's No. 1 automaker currently does not have a timeline for starting production in Türkiye, Executive Vice President Stella Li told Reuters at the company's U.K. headquarters in west London.
The factory in Manisa, western Türkiye, was planned to have an initial annual capacity of 150,000 cars.
Türkiye has long served as a low-cost manufacturing hub for major automakers, including Toyota, Stellantis, Ford, Hyundai and Renault.
