BYD and Uzbekistan Sign An Agreement for A Joint Venture to Produce Electric and Hybrid Vehicles
On September 27th, the Ministry of Investment, Industry and Trade of Uzbekistan announced on its website that it had signed an “Investment Agreement for the Production of Electric and Hybrid Vehicles and their Components in Uzbekistan” with BYD on September 26th.
The agreement shows that BYD will establish a joint venture with Uzavtosanoat JSC, the state-owned holding company of Uzbekistan’s automotive industry, to set up the “BYD Uzbekistan Factory” for the production of electric vehicles and hybrid electric vehicles.
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The planned production capacity for both phases one and two of this investment project is 50,000 vehicles. After the completion of phase three, the production capacity will reach 300,000 vehicles.
The official pointed out at the signing ceremony that BYD’s Uzbekistan factory will become the first joint venture of China’s leading electric vehicle company outside of China. This is thanks to Uzbekistan’s industrial and technological achievements in the automotive industry, as well as its investment attractiveness.
