Turkey revokes BYD incentives after factory plans abandoned

Chinese electric‑vehicle maker BYD announced a US$1 billion investment in Manisa, Turkey, promising an annual capacity of 150,000 EVs and 5,000 jobs, and received tax exemptions, tariff relief and land allocation under government incentives. Two years later BYD shifted its focus to Hungary and formally suspended the Manisa project.

The move prompted Turkish MPs to raise the issue in the Grand National Assembly. Industry and Technology Minister Fatih Kacır responded that the incentives were granted within the framework of project‑based support legislation and that “all processes safeguard public rights and interests.” He said monitoring and enforcement actions would be taken, the tax exemptions would be recovered with interest, and the allocated land would be reclaimed.

The minister affirmed that the regulations provide for the repayment of incentives and other penalties when an investment does not materialise as scheduled.