Details emerge: Chinese automaker Chery to invest $1.5B in Türkiye, creating 25K jobs
Türkiye's $45 billion trade deficit with China highlights a growing economic dependency, prompting calls for export diversification and strategic investments to restore balance.
The details of Chinese automaker Chery’s factory investment in Türkiye‘s Samsun have been revealed by Turkish media as negotiations near their final stages.
According to information obtained by business-focused CNBCE.com, Chery, which plans to establish a factory in Samsun, is expected to invest an amount similar to that of another Chinese electric vehicle giant, BYD, which invested $1 billion in Manisa to establish a manufacturing facility.
Sources indicate that Chery’s investment is projected to range between $1.5 billion and $2 billion.
The factory will be built on a 1.5 million-square-meter (16.14 million square feet) site, with an initial goal of employing 25,000 people. Production is expected to reach approximately 150,000 vehicles per year.
Currently, hybrid and gasoline-powered vehicles imported from China are subject to a 50% customs duty, while electric and plug-in hybrid electric vehicles (PHEVs) face a 40% tariff. However, once Chery obtains an investment certificate, it will be exempt from these additional taxes, apart from the standard customs tariff.
Meanwhile, the Samsun Chamber of Commerce and Industry has launched efforts to identify human resources for design-related positions. Additionally, it was reported that a car design competition will be organized with the participation of the business community.
After the Presidential Cabinet Meeting on Monday, President Recep Tayyip Erdogan stated that negotiations with Chery were progressing, saying, “We will see the foundations of this brand being laid in Samsun in a short time.”
“In our Cabinet meeting held today, we discussed the 2030 industrial and technology strategy, which will enhance our country’s independence in industrial production and technology,” he added.
