BYD Inks Deal With Car Parts Supplier Forvia For Turkey Plant

One of the biggest auto suppliers in the world, Forvia, has been chosen by Chinese automaker BYD to support its new factory in Turkey, which will manufacture electric and hybrid cars. Forvia will supply a variety of products, such as interior solutions, safety and lighting systems, and sustainable composite parts for the vehicles manufactured at BYD's new facility in Manisa.
For the record, Forvia is already a major supplier to BYD's operations in Hungary and will soon increase its presence in Turkey. In July 2023, the automaker and Turkey's Ministry of Industry and Technology signed an agreement, led by President Recep Tayyip Erdogan, formalizing the automaker's investment in Turkey. An estimated $1 billion will be invested in the Manisa facility, which will create 5,000 jobs and produce 150,000 electric and hybrid cars a year.

Construction is anticipated to begin in 2025, with production starting by the first quarter of 2026. The factory's Environmental Impact Assessment (EIA) process started in October 2023. Several production lines, including those for battery assembly, motor manufacturing, and other essential parts for the manufacture of electric vehicles, will be housed in the facility.

The business has also made agreements with Li Auto and Chery, two Chinese automakers that are reportedly nearing the end of the process for a factory investment in Turkey. Chery International President Zhang Guibing showcased the company's European manufacturing bases, including those in Spain, Italy, and Turkey, while presenting the latest advancements and future plans during a recent annual conference in Wuhan.

In addition to Chery, Turkey has been in negotiations with SAIC Motor, the state-owned company that owns MG Motor. On Monday, Forvia's stock surged by almost 10% after the company revealed that it had reached a deal with Xiaomi, another Chinese automaker.