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China’s EV giants target Turkey as trade wars intensify

In this picture taken on October 26, 2011 workers assemble one of the many car models at Chinese carmaker's Chery Automobile plant in Wuhu, east China's Anhui province. The growth of China's car market will be driven primarily by exports this year because domestic sales have slowed dramatically, as the world's largest car market -- sold 614,000 cars abroad in the first nine months of 2011, a 60 percent rise on the same period in 2010. CHINA OUT AFP PHOTO (Photo credit should read STR/AFP via Getty Images)
To:

Al-Monitor Readers

From:

Samuel Wendel

Senior Market Research Analyst, Al-Monitor

Date:

June 6, 2024

Bottom Line:

Turkey is chasing Chinese help in the race to become a leading electric vehicle (EV) production hub: News surfaced May 17 that Turkey is in advanced negotiations to secure factory investments from Chinese EV manufacturers BYD and Chery. Such deals could help these players boost sales into Europe (via Turkey’s EU customs union) at a moment when Western countries are amplifying trade restrictions amid fears China’s cheaper EVs will dominate — headlined by the United States slapping a 100% tariff on Chinese EV imports on May 14. Turkey has also imposed protectionist measures to shield its own EV maker Togg, but Ankara is also seeking foreign investment and attracting top Chinese players would be a coup at a moment when other Mideast states are also hunting for EV investments.