Investments for critical raw materials in battery production will be encouraged

Istanbul Chamber of Commerce (ITO) President Şekib Avdagiç stated that the conjuncture is working in favor of Turkey at a time when Europe is looking for alternatives to Asian manufacturers and said, “The strategic inclusion of lithium-ion batteries constitutes the most critical pillar of Türkiye’s strategy to become a regional base in battery production. The communiqué will encourage both domestic and national battery production and foreign direct investments in this field.” he said.

Within the scope of the “Communiqué on Amendments to the Communiqué on Strategic Priority and Technical Evaluation of Investment Projects” prepared by the Ministry of Industry and Technology, the definition of “Critical Raw Material List” was changed.

On the other hand, recently increasing geopolitical tensions and regional conflicts cause fluctuations in energy markets, which directly affects the interest in electric vehicles.

While the volatility in oil prices directs consumers to alternative energy solutions in the short term, it strengthens countries’ goals of reducing fossil fuel addiction in the medium and long term.