Türkiye's automotive industry is developing rapidly, and the penetration rate of new energy vehicles has reached 10.5%

The Turkish automotive industry produced and sold more than 1 million vehicles in the period from January to November 2024. Although most of the sales are imported, the Turkish government plans to build an 80GWh lithium battery production scale by 2030 and launch a $30 billion incentive plan to attract corporate investment. In addition, new energy vehicles are rapidly penetrating in Turkey, with cumulative sales reaching 89,000 vehicles from January to November 2024 and a penetration rate of 10.5%. Chinese brands such as BYD have invested in Turkey to build factories, and it is expected that the Turkish automotive market will continue to maintain rapid growth in the next few years.