China’s EV giants target Turkey as trade wars intensify

Al-Monitor Pro Members

Samuel Wendel

Senior Market Research Analyst, Al-Monitor

June 6, 2024

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.