Turkey has dealt a significant blow to Chinese electric vehicle manufacturer BYD, revoking a tax break worth millions of dollars for its stalled $1 billion plant in the country. The move comes as a warning to the company to finalize the project or face the consequences of repayment for the incentives it has already received. The tax break was part of a deal struck between BYD and the Turkish government, which aimed to attract foreign investment in the country's growing electric vehicle sector. However, the project has been stuck in limbo for months, raising concerns about the future of the plant and the fate of the incentives.
Turkey Ends BYD Tax Break, Warns of Repayment Over Stalled $1B Plant eletric-vehicles.com
