Chery is establishing an electric vehicle factory in Turkey with a $1 billion investment!

For some time, work has been underway in the new organized industrial zone in Samsun regarding Chery’s factory investment. Today, it was announced that the investment will amount to $1 billion.

The facility, which will produce 200,000 electric vehicles and their subsystems annually, is likely to be built based on the model of Chery’s next-generation factory in Qingdao, which was made production-ready in 17 months. The company, which states that a car rolls off the assembly line every 1.5 minutes at this 200,000-capacity factory, will produce only plug-in hybrid and fully electric models in Turkey.

With the confirmation of the investment in Turkey, it is estimated that Chery, like BYD, will also benefit from customs exemptions. This is expected to bring down prices exceeding two million lira, with sales of plug-in hybrid and fully electric models set to begin soon.