Investment talks with Chinese Chery in final stages: Turkish minister

Minister of Industry and Technology Mehmet Fatih Kacir stated that talks with Chinese automotive giant Chery regarding investments in Türkiye are nearing completion.

Investment talks with Chery near completion

In an exclusive interview with Turkish media outlet Ekonomim, minister Kacir emphasized that the approach to the investment is being conducted carefully, taking into account Türkiyes automotive sector potential and market conditions. “We are in the final stages of talks with Chery,” Kacir said, signaling that an agreement is expected soon.

Chery has plans to build a factory in Türkiye, with Samsun being a potential location. Minister Kacir highlighted that they are carefully managing the situation to protect local automotive manufacturers, stating, “There are eight global brands manufacturing in Türkiye, and we have a large automotive industry. We are considering both the market conditions and existing manufacturers as we move forward.”

New investments to boost Türkiye’s position in automotive market

Kacir pointed out the importance of the new investments, especially in the electric vehicle sector, to enchance Türkiye’s production capacity.

He highlighted the fast-moving investment by Chinese automaker BYD, which is planning to begin production in Manisa by 2026. “BYD has allocated investment space and completed the environmental impact assessment process. They are working swiftly to complete construction and begin production,” Kacir explained.

Togg sedan model to hit the roads in 2025

Togg is preparing to launch its highly anticipated sedan model, the T10F, in the first half of 2025. Minister Kacir shared that the T10F will be available for pre-order in April 2025, with production expected to begin soon after. Togg, which has already sold over 40,000 units of its C-SUV model T10X, is gaining significant traction in the Turkish market.

Technological partnerships for Togg

Regarding the possibility of Togg forming partnerships with global brands, Minister Kacir noted that while Togg will remain a national brand, there could be future collaborations in the technology sector. “Togg is a national brand, and it will remain so. However, it is possible to form technology partnerships with other companies, such as in battery technology. Farasis is one such example,” Kacir stated.

Kacir also highlighted the opportunities available for global investors in Türkiye’s automotive sector. “Brands like BYD, Chery, and SAIC are entering the Turkish market, and there are great opportunities to expand globally from here,” Kacir concluded.