Chery's Strategic Shift: No Factory in Turkey

Chinese automaker Chery announced it has no intentions of constructing a manufacturing plant in Turkey, despite previous reports by Reuters. Chery is instead exploring partnerships with third parties to grow its presence in the Turkish market.

Amid speculation, Chinese automaker Chery clarified on Wednesday that it does not plan to establish a manufacturing facility in Turkey. Instead, the company is focused on forming partnerships with third-party entities to facilitate its expansion in the region.

Earlier reports by Reuters, citing the Turkish presidency, suggested that Chery was poised to invest $1 billion in building a plant in Turkey's Samsun province, with a projected annual production capacity of 200,000 vehicles.

While Chery's strategic pivot away from building a factory may surprise some, it underscores the company's commitment to enter the Turkish automotive market through collaborative ventures rather than standalone projects.

(With inputs from agencies.)