Chinese air conditioning manufacturer Gree Electric Appliances, one of the world’s largest producers with an annual output of 60 million units, is exploring Türkiye as a potential logistics hub and factory investment location.
Senior executives from Gree, including the company’s president Dong Ming Zhu, visited Türkiye recently and met with the Turkish Presidential Investment Office to discuss potential investment opportunities.
Gree explores investment in Türkiye
Gree’s interest in Türkiye comes as part of the company’s broader strategy to expand its presence in Southeast Europe and beyond. Sema Tunar, managing partner of Gree’s Turkish representative TLC Klima, emphasized that the visit marked a significant step in Gree’s investment evaluation process. “Dong Ming Zhu chose Türkiye as her first European destination for a business visit, recognizing the country’s potential as a logistics hub,” said Tunar.
Potential for factory investment in five years
While no formal decision has been made, Gree is expected to continue evaluating Türkiye’s investment landscape over the coming years. Tunar noted the company’s goal of establishing a factory within five years – which would serve as a production base for Gree’s growing demand in the region.
Türkiye becomes growing hub for Chinese investments
The potential Gree investment follows other significant moves by Chinese companies into the Turkish market. Automotive giants like BYD, Chery and MG have recently announced their plans for substantial investments in Türkiye, underscoring the country’s growing importance as a production and logistics base for Chinese manufacturers.
Rising air conditioner sales in Türkiye
As Gree considers its future in Türkiye, the local demand for air conditioners is also on the rise. Tunar reported that air conditioner sales in the country are expected to increase from 1.6 million units in 2023 to 2.1 million in 2024, driven by rising temperatures and new housing developments in earthquake-affected regions.
