BYD’s $1 billion electric vehicle factory in Türkiye is in jeopardy as the company shifts focus to its new facility in Hungary. The Turkish government has threatened to impose fines if the project is officially cancelled.
Turkish authorities suspended BYD’s investment incentives and customs duty exemptions following the project pause. The Hungary plant is currently expected to begin production in late 2026.
BYD’s sales in Türkiye plummeted 73.3% in the first half of 2026 compared to the previous year. This strategic retreat highlights the challenges of BYD’s global expansion as it attempts to offset a contracting Chinese domestic market.
BYD also announced a new multi-year partnership with French football club Paris Saint-Germain. The deal is intended to bolster brand recognition across the European market.