Türkiye will establish its first automobile battery manufacturing plant and the Turkish government will support the project through the Project-based State Incentive, according to a presidential decree published in the Official Gazette on December 18.
A joint venture -named SIRO- will be established by Türkiye's Automobile Initiative Group (TOGG) and Chinese battery giant Farasis for the battery plant in Gemlik district of Bursa province of Türkiye.
Commenting on the investment Minister of Industry and Technology Mustafa Varank said, "This is a huge step forward for our automotive industry, which has a capacity of 2 million vehicle production and USD 30 billion of exports."
SIRO will manufacture 15 gigawatt hours of battery cells and modules and the total investment amount is estimated at TRY 30 billion, according to the decree.