Great Wall suspended its investment in Türkiye
According to the news of Ekonomim, Great Wall announced that it suspended its investment decision in the country last Thursday. The driving force behind this decision is frequently changing regulations and increasing labor costs. Another important reason why Great Wall Motors suspended its investment is that its electric models did not achieve the desired success in Europe.
According to reports, Great Wall Motors, which visited Turkey about two weeks ago and examined the investment conditions on site, announced to the Turkish authorities that it had suspended its investment plan last Thursday. As you may remember, regulations were introduced for the import of electric vehicles. According to this regulation EU countries ve Free Trade Agreement for electric vehicles imported from non-signatory countries such as China and the USA At least 20 service points in 7 different regions was obliged to establish. However, there are still unclear issues in this communiqué and these issues may affect investment decisions.
Why can’t Türkiye attract investments?
China, which embarked on an aggressive growth spurt in the global automotive market, became the world’s largest automobile exporter, leaving Japan behind. Chinese companies want to continue growth by switching to production instead of making investment decisions to expand into global markets. Türkiye is not the only country demanding these investments. EU countries also provide incentives for these investments.. Companies also prefer the most attractive incentives or suitable environments.
Latest situation in Skywell, Chery and MG investments
In this context, the brand that took the most concrete step to invest in Turkey was Skywell, which sells in Turkey under the distributorship of Ulu Motor. According to what is transferred Skywell officials will meet with relevant ministry officials tomorrow (Tuesday) discussion about incentives will make. The Chinese brand will take faster action if the incentives meet its expectations. Chery On the side, ministry officials sent a message to company officials last week. Letter of Intent This letter contains information about what incentives will be given if Chery invests in Turkey.
Similarly SAIC within MG On the other hand, investment negotiations are continuing. However, Türkiye is not the only alternative in this investment. Officials state that we are in a race with countries such as Germany and France.
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Source link: https://www.donanimhaber.com/cinli-otomotiv-firmasi-great-wall-turkiye-yatirimini-askiya-aldi–174079