The largest Chinese manufacturer of electric vehicles BYD Auto Industry and Uzavtosanoat signed a memorandum of understanding.
The parties agreed to study the feasibility of implementing a joint project for the production of passenger cars and buses in Uzbekistan using new energy sources – hybrids, electric vehicles and electric buses. The project also includes the creation of a sales and service network, including the repair of batteries and motors of electric vehicles.
There are no specifics yet about the models that can be put on the conveyor – the memorandum does not oblige the parties to anything and only indicates the vector of their cooperation. Although the head of the department of strategic planning, analysis and development of Uzavtosanoat, Rustam Kodirov, said in March 2021 that the production of electric vehicles in Uzbekistan could be established by 2025.
If the announced plans come true, Uzavtosanoat will be able to reboot the auto industry of Uzbekistan, which is currently focused on producing morally and technically outdated models of the Genaral Motors concern. At the same time, the company’s factories will have access to the technologies of the BYD corporation, which has 8 factories in different countries, its own R&D centers and ranks first in China (and second in the world after Tesla) in sales of cars powered by new energy sources.
BYD Auto’s production capacity is about 1 million cars per year and production volumes are planned to double in the coming years. The company’s market capitalization is estimated at $100 billion and has 220,000 employees.
Source: Gazeta.uz
