BYD's billion-dollar Turkish plant on hold — or not?

Conflicting statements are creating uncertainty about the future of BYD's planned billion-dollar investment in Turkey. While local representatives speak of the project being paused, the Turkish government firmly denies such reports. The Chinese automaker BYD had announced the construction of a roughly one-billion-dollar electric vehicle factory in Turkey in July 2024, which was set to have an annual production capacity of 150,000 vehicles. Ali Suat Ertosun, chairman of an association in Manisa, claimed the investment plans have been paused, with an official decision possible by February or March 2026. However, Trade Minister Ömer Bolat contradicted this, stating BYD has not suspended the investment and talks with the industry ministry are ongoing, denying any problems. BYD itself has neither confirmed nor denied the reports. The company is concurrently advancing its first European EV factory in Szeged, Hungary. It remains unclear whether the situation in Turkey is a mere delay or if the project is quietly being shelved