Türkiye Cracks Down on Hybrid Car Imports

A Hyundai Motor's NEXO hydrogen car is fueled at a hydrogen station in Seoul, South Korea, August 13, 2019. (Reuters)
A Hyundai Motor's NEXO hydrogen car is fueled at a hydrogen station in Seoul, South Korea, August 13, 2019. (Reuters)
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Türkiye Cracks Down on Hybrid Car Imports

A Hyundai Motor's NEXO hydrogen car is fueled at a hydrogen station in Seoul, South Korea, August 13, 2019. (Reuters)
A Hyundai Motor's NEXO hydrogen car is fueled at a hydrogen station in Seoul, South Korea, August 13, 2019. (Reuters)

Türkiye's trade ministry imposed strict conditions on the import of plug-in hybrid vehicles from some countries, including China, according to a notice published in the Official Gazette on Friday.

The move follows a decision in June to limit imports of electric vehicles.

China has faced widespread criticism over its vehicle exports, which many countries claim are heavily subsidised by Beijing, according to Reuters.

Analysts say Ankara is also seeking to increase pressure on Chinese carmakers with which it is holding talks about investing in production in Türkiye.

The notice, which takes effect in 30 days, says an importer must meet conditions including having 20 authorised service shops in seven different regions of Türkiye, in order to import chargeable hybrid vehicles not produced in the European Union or in countries with which Türkiye has a free trade agreement.

Analysts say no importers meet the conditions.

"All plug-in hybrid vehicles that will come from now on will be blocked, apart from those in stock already. Other hybrid cars are already subject to a high customs tax," Erol Sahin, founder of EBS Danismanlik consultancy said.

He added the government was "toughening its message of hurry up" to the Chinese firms with which it is negotiating over domestic production.

In July, China's BYD agreed with the Turkish government to build a $1 billion plant in Türkiye with an annual capacity of 150,000 vehicles.

Last week, Turkish sources said BYD's investment process in Türkiye continued without any problems, after China's warning to its companies about the risk of overseas investment.

China's Chery and SAIC are also in talks.

In Europe sales of fully electric vehicles have been falling more rapidly than of hybrid cars, data has shown this week.

Türkiye's domestic car and light vehicle market was at 762,000 units for the first eight months of the year, around the same as last year. Imports of Chinese brands jumped more than two fold to 63,000 units, taking 8% market share, according to industry datatu



Wars Top Global Risk as Davos Elite Gathers in Shadow of Fragmented World

A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)
A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)
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Wars Top Global Risk as Davos Elite Gathers in Shadow of Fragmented World

A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)
A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)

Armed conflict is the top risk in 2025, a World Economic Forum (WEF) survey released on Wednesday showed, a reminder of the deepening global fragmentation as government and business leaders attend an annual gathering in Davos next week.

Nearly one in four of the more than 900 experts surveyed across academia, business and policymaking ranked conflict, including wars and terrorism, as the most severe risk to economic growth for the year ahead.

Extreme weather, the no. 1 concern in 2024, was the second-ranked danger.

"In a world marked by deepening divides and cascading risks, global leaders have a choice: to foster collaboration and resilience, or face compounding instability," WEF Managing Director Mirek Dusek said in a statement accompanying the report.

"The stakes have never been higher."

The WEF gets underway on Jan. 20 and Donald Trump, who will be sworn in as the 47th president of the United States the same day and has promised to end the war in Ukraine, will address the meeting virtually on Jan. 23. Ukraine President Volodymyr Zelenskiy will attend the meeting and give a speech on Jan. 21, according to the WEF organizers.

Among other global leaders due to attend the meeting are European Commission President Ursula von der Leyen and China's Vice Premier Ding Xuexiang.

Syria, the "terrible humanitarian situation in Gaza" and the potential escalation of the conflict in the Middle East will be a focus at the gathering, according to WEF President and CEO Borge Brende.

Negotiators were hammering out the final details of a potential ceasefire in Gaza on Wednesday, following marathon talks in Qatar.

The threat of misinformation and disinformation was ranked as the most severe global risk over the next two years, according to the survey, the same ranking as in 2024.

Over a 10-year horizon environmental threats dominated experts' risk concerns, the survey showed. Extreme weather was the top longer-term global risk, followed by biodiversity loss, critical change to earth's systems and a shortage of natural resources.

Global temperatures last year exceeded 1.5 degrees Celsius (34.7 degrees Fahrenheit) above the pre-industrial era for the first time, bringing the world closer to breaching the pledge governments made under the 2015 Paris climate agreement.

A global risk is defined by the survey as a condition that would negatively affect a significant proportion of global GDP, population or natural resources. Experts were surveyed in September and October.

The majority of respondents, 64%, expect a multipolar, fragmented global order to persist.