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Project-based state aid for the investment of a lithium-ion battery production facility in Kayseri

Project-based state aid will be given to the lithium-ion battery production facility investment to be made in Kayseri. The total fixed investment amount foreseen in the project was determined as ₺722 million 501 thousand 56. The envisaged additional employment is 481 and the envisaged number of qualified personnel is calculated as 40.

The Presidential Decree on the subject entered into force after being published in the Official Gazette. Accordingly, project-based state aid will be given to the lithium-ion battery plant investment to be made by Aspilsan Enerji Sanayi ve Ticaret A.S.

While the start date of the investment was determined as 1 March 2020, the investment period was determined as 7 years from the start date. If the investment cannot be realized within the stipulated time, an additional period of up to half of this period may be granted by the Ministry of Industry and Technology.

The total fixed investment amount foreseen in the project, which was determined as product diversification investment, was determined as ₺722 million 501 thousand 56. The envisaged additional employment is 481 and the envisaged number of qualified personnel is calculated as 40.

The products planned to be produced at the end of the investment period and the production capacities were determined as 414 thousand 491 units per year for the cylindrical battery and 3 thousand 432 units per year for the prismatic batteries.

INSURANCE, ENERGY AND QUALIFIED PERSONNEL SUPPORT

The investment project supported within the scope of the decision will benefit from customs tax exemption, VAT exemption, VAT refund and tax reduction support.

Insurance premium employer’s share support (10 years without maximum amount limit), income tax withholding support (10 years), qualified personnel support (maximum ₺30 million) and energy support (50% of energy consumption expenditures, not to exceed ₺100 million, for up to 10 years from the date of commissioning) will be provided.

Following the completion of the investment, the company will apply to the Ministry for a completion visa. As a result of the appraisal process to be carried out at the investment site, a completion visa will be issued by the Ministry.

An investment incentive certificate will be issued after the necessary information and documents are approved by the Ministry.

The provisions of the decision will be executed by the Ministry of Industry and Technology.

Source: Sabah / Translated by Irem Yildiz

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