Sizable Investment of 1.6 Billion Dollars Coming to Turkey from Skywell

⚡A huge electric vehicle investment of $1.6 billion is coming to Turkey from Skywell!

🟢Chinese electronics and automotive company Skywell announced that it plans to establish a giant factory in Turkey that will initially offer a production capacity of 150,000 electric vehicles.

🔋Mahmut Ulubaş, the company’s Turkey CEO, announced in the BloombergHT broadcast yesterday that they will put into operation the first facility where they will carry out battery pack production and R&D activities in the first quarter of 2024.

💰Skywell (Skyworth in China), which foresees an investment of 1.6 billion dollars in electric vehicle production, aims to build production facilities in Latin America and Asia outside Turkey. The company has plans to launch 7 new cars by 2027.

⚡The company, which designs its 800V electrical architecture, electric motor, and battery pack, wants to make its Turkey factory an export point for Europe. It is estimated that Skywell continues its negotiations with the relevant authorities in Turkey and the investment will become official within a few months.