Turkey invests $30 billion in high-tech, Erdogan confirmed
With these incentives, Erdogan expects Turkey to attract at least $20 billion in private sector investments.
Turkey is set to launch a $5 billion package to boost annual electric vehicle (EV) production to one million cars. President Tayyip Erdogan announced that the country has paved the way for investments from major EV producers, including a $1 billion production plant by China’s BYD. The initiative aims to establish Turkey as a significant player in the EV market.
In addition to the EV sector, Erdogan revealed plans for a $5 billion investment to build a semiconductor chip factory. This effort is part of a broader strategy to enhance Turkey’s capabilities in high-tech manufacturing. The government also aims to become a regional hub for battery production, with a goal of building an 80 gigawatt-hour capacity by 2030, backed by a $4.5 billion incentive package.
Further support will be provided for renewable energy sectors. Erdogan announced $2.5 billion in grants for solar cell facilities with a capacity of up to 15 gigawatts. Another $1.7 billion has been allocated for manufacturing critical components in the wind energy sector. These initiatives are part of Turkey’s plan to diversify its energy sources and reduce reliance on imports.
Erdogan expects these incentives to attract at least $20 billion in private sector investments. The government will be unveiling further details of these high-tech incentives soon, as it continues to position Turkey as a leading player in various advanced technology industries.
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