Ankara: Trkiye's Industry and Technology Ministry stated Wednesday that the investment agreement with Chinese electric vehicle manufacturer BYD, including the company's obligations and guarantees to the state, remains valid.

According to Anadolu Agency, BYD had previously declared plans to set up a production facility in Trkiye, targeting an annual production capacity of 150,000 vehicles. As part of the investment process, land was allocated in Manisa province, western Trkiye, following the company's payment, initiating the investment proceedings.

Nevertheless, due to a lack of progress in the investment over time, the Industry and Technology Ministry suspended BYD's access to incentives at the start of 2026. Ministry officials informed Anadolu that despite this suspension, the investment agreement, its conditions, BYD's obligations, and the guarantees remain in effect.

The ministry continues to uphold all procedures in accordance with official regulations. In cases where investments are incomplete, companies must reimburse the incentives received, adhering to legal regulations and the commitments and guarantees provided.

Ministry officials emphasized that no domestic or foreign company faces discrimination, asserting that the rules are uniformly applied to all companies, ensuring the protection of public interests throughout the processes.