Turkey expects Chery to sign $1 billion EV factory deal

ANKARA: Turkey expects Chinese carmaker Chery Automobile Co Ltd to invest about $1 billion in electric vehicle plants, a move that would bolster Ankara’s ambitions to become a regional manufacturing hub, according to a person familiar with the matter.

- FIRAT KOZOK

Turkey’s Industry and Technology Ministry is talking to Chery about the manufacturer constructing a plant near the Black Sea port city of Samsun that can make 200,000 vehicles annually, said the person, who asked not to be identified as the talks are private.

Chery didn’t respond to requests for comments.