ANKARA (Reuters) – Turkey is in the final stages of talks on a possible investment by Chinese car maker Chery, a Turkish official said, as Ankara seeks to deepen its ties with Chinese car makers after reaching an investment deal with China’s BYD earlier this year.
The official, who spoke on condition of anonymity, did not specify what sort of investment Chery and Ankara were discussing or whether there was a timeline for reaching a final agreement.
In July, Ankara said Chinese electric vehicle manufacturer BYD agreed to build a $1 billion production plant in Turkey with an annual capacity of 150,000 vehicles.
Turkey’s presidency said on Saturday that President Tayyip Erdogan had met Chery International President Guibing Zhang on the sidelines of an investment event in Istanbul. Industry and Technology Minister Mehmet Fatih Kacir also attended the talks.
(Reporting by Huseyin Hayatsever; Writing by Tuvan Gumrukcu; Editing by Himani Sarkar)
