Asia Tech Wire (Sep 4) -- Turkey seeks to cooperate with China to develop rare earth resources, attracting Chinese companies to produce batteries in the country, according to Bloomberg.

Citing people familiar with the matter, the report said if Turkey realizes cooperation with China on rare earth resources, it may enhance the country's attractiveness to Chinese manufacturers of electric cars and batteries.

Turkey hopes to achieve the breakthrough to encourage Chinese companies such as BYD to produce batteries in the country.

In early July, BYD, the world's largest electric car maker, signed an agreement to invest $1 billion in Turkey to set up a manufacturing plant with an annual capacity of 150,000 units as well as a research and development center.

Two years ago, Turkey discovered what it described as the world's second largest rare earth element reserve in the Beylikova district of Eskisehir in central Anatolia. Turkey's energy ministry has signaled its readiness to build a plant there to process this raw material.