In an effort to avoid unprecedented EU tariffs on imported cars, Chinese carmaker BYD has signed a $1 billion deal to set up a factory in Turkey.
BYD is one of the several Chinese manufacturers currently facing additional import tariffs designed to curb what the European Commission describes as “unfair subsidies” from Beijing. While BYD models are, as of 5 July, being hit with an additional 17.1 per cent duty on top of the regular 10 per cent import tariff (27.1 per cent total), some carmakers, including the likes of MG, are being faced with tariffs of up to 48 per cent.
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