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In June 2026, Chinese electric-vehicle manufacturer BYD confirmed that its planned $1 billion electric and plug-in hybrid vehicle factory in Manisa, western Turkiye, had been placed on indefinite hold. The project, signed with great ceremony in July 2024 in the presence of Turkish President Recep Tayyip Erdoğan, had been presented as a landmark investment. It promised annual production capacity of 150,000 vehicles, up to 5,000 jobs, a research and development center, and production by the end of 2026. Nearly two years later, construction had not begun and no foundation had been laid. BYD Executive Vice President Stella Li said the Turkish project had no timeline and that the company’s priority was its facility in Szeged, Hungary.
The decision left Ankara politically exposed. Turkiye had granted BYD substantial import-tax exemptions, allowing the company to sell tens of thousands of vehicles and generate hundreds of millions of dollars in additional profits.
