As BYD, the biggest electric car manufacturer in China, enters a$ 1 billion ( £ 780m ) agreement to set up a factory there as it continues to expand outside of its home country.
According to Greek condition news agency Anadolu, the new plant will be able to produce up to 150 000 vehicles annually.
By the end of 2026, the plant is anticipated to begin manufacturing and provide about 5, 000 tasks.
The agreement was signed at a meeting in Istanbul where President Recep Tayyip Erdogan and BYD’s main professional Wang Chuanfu were present.
A BBC contacted BYD to get more information about the offer, but BYD did not respond right away.
Chinese EV manufacturers are increasingly under pressure in the US and the European Union as a result of this notification.
Last week, the EU took action to protect the bloc’s motor industry by raising tariffs on Chinese EVs.
Following the decision, BYD was hit with a 17.4%-additional tax on the vehicles it boats from China to the EU, which was in addition to a 10 % trade work.
Because Turkey is a member of the EU’s Customs Union, imports made there and exported there you avoid paying more taxes.
Additionally, the Greek government has imposed an additional 40 % tariff on imports of Chinese cars in order to support the nation’s automakers.
In May, US President Joe Biden ramped up tariffs on Chinese-made electric cars, solar panels, steel and other goods.
The White House claimed that the actions, which include a 100 % border tax on Chinese electric vehicles, were intended to protect US work and were a response to unjust policies.
BYD, which is backed by former US investment Warren Buffett, is the world’s next- largest Vehicle company after Elon Musk’s Tesla.
The business has been quickly expanding its manufacturing services outside of China.
BYD announced at the end of last year that it had set up a factory in Hungary, a member condition of the EU.
It is anticipated to be the first passenger car manufacturer for the company in Europe and will result in tens of thousands of jobs.
On Thursday, BYD opened an EV flower in Thailand- its initial factory in South East Asia.
BYD said the plant will have an quarterly power of 150, 000 automobiles and is projected to make 10, 000 work.
Additionally, the business has stated that it intends to set up a production facility there.