Warren Buffett-Backed BYD To Build $1B Plant In Turkey With Annual Production Capacity Of 150K Vehicles

Quick Summary:

Chinese automaker BYD (OTC:BYDDY) (OTC:BYDDF), backed by Warren Buffett's Berkshire Hathaway, has announced plans to invest $1 billion in the construction of an electric vehicle (EV) plant in Turkey.

This strategic move is seen as an expansion into the European market, considering Turkey’s position as Europe’s third-largest automobile exporter and its free trade agreements with 23 European ...

What Happened: The investment contract was signed with the Turkish government on July 8, in the presence of Turkish President Recep Tayyip Erdogan, reported CnEVPost.

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Article Details

Author / Journalist: Rounak Jain

Category: Technology

Markets: United StatesBrazilChinaHungaryThailandTurkeyUzbekistan

Topics: Electric vehicles News EVs BYDDY Warren Buffett Markets BYDDF Tech Benzinga neuro Benzinga Mobility

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 06:52:33 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 395 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21551279

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