Great Wall Suspended Its Investment in Turkey

in recent years electric vehicles in the automotive industry It is true that there is an increasing demand for Especially Chinese companies They have reached an increasingly larger market share in recent years. Among the countries where these companies planned to invest, Turkey was among the prominent names. The latest news from the industry is not encouraging at all.

Electric car giant called Great Wall, for its investment in Turkey. recently made a new decision. The company announced that it would stop this investment. Frequent changes in regulations in Turkey and increasing labor costs were cited as the reason for the decision. Besides Great Wallis not the only company negotiating against Turkey.

Great Wall uneasy about frequent changes in regulations

Brands such as Chery, Skywell and MG are also negotiating for investments in Turkey. Presidential Investment Agency Manufacturers, who have also held negotiations with , expect some guarantees to invest and incentives that will make investing attractive. Becoming the country that exports the most automobiles, surpassing Japan Chinesefollows an aggressive strategy in this market. Years later, with the intense interest in electric models from Chinese manufacturers in Turkey, the automotive industry had an external deficit. On the other hand, it seems that the demand for the sector will enter a period of decline.

Türkiye, on the other hand To attract investments towards EU countries is struggling, while also trying to protect the domestic automotive market. Let’s see what changes will occur in the coming period.