Skywell Plans to Invest $1.6 Billion in Turkey

Skywell is preparing to establish an electric car and battery factory in Turkey. China-based electric car brand Skywell has been taking important steps since the first day it entered the Turkish market. Speaking to BloombergHT, Skywell Turkey CEO Mahmut Ulubaş announced that the brand will produce vehicles and batteries in Turkey with an investment of 1.6 billion dollars. Thus, the company will realise Turkey's second electric car factory.

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Billion Dollar Investment from Skywell Company

Mahmut Ulubaş stated that Skywell vehicles to be produced in Turkey will also be offered to the European market. It was previously known that the company would produce batteries in Turkey. However, the vehicle production plan was a big surprise in the sector. Mahmut Ulubaş, CEO of Skywell Turkey, said that the process of establishing a factory is at the negotiation stage and that they are in contact with the Ministry of Industry and Technology and the Presidential Investment Office. Ulubaş stated that the application process can be completed within 3 months and added that the factory to be established will provide batteries for Skywell vehicles as well as other electric cars. Skywell vehicles will be labelled as domestic production after they are produced in Turkey.

Mahmut Ulubaş emphasised that the interest in electric cars has increased both in Turkey and Europe and prejudices have been broken. Stating that Turkey is a market that appeals to Europe, Ulubaş said that it is pleasing that the sector reached 60 thousand figures while expecting 39 thousand electric car sales. Stating that they are hopeful for the future, CEO predicted that the electric car sector will continue to grow.