Chinese EV giant BYD announced a joint venture (JV) with Uzavtosanoat JSC (UzAuto) for New Energy Vehicles (NEVs) production in Central Asia, as per the BYD website.
“We are delighted to be working with UzAuto on this important milestone to expand the production of new energy vehicles in the Uzbekistan region. Collaboration is a core part of the BYD strategy, and it is important to work with other corporations who share the same vision.
We look forward to delivering our class-leading products and technologies to new consumers through this joint venture.”
Michael Shu, BYD Europe and International Cooperation Division’s General Manager and Managing Director
Purpose of the JV
The JV will produce NEVs, including BYD’s DM-i super hybrid models and relevant components in Uzbekistan.
The partnership aims to expand the NEV market worldwide, with Central Asia as the starting region. They seek to promote sustainable mobility adoption and its health and environmental benefits.
Why Uzbekistan?
Uzbekistan has not yet been a significant market for plug-in electric vehicles. According to the Russian news agency Sputnik News, it barely has 1,000 electric vehicles registered.
Nonetheless, it might serve as a crucial staging point in Central Asia for the long-term-focused Chinese automaker.
About BYD
BYD is a Chinese battery and EV giant founded in 1994. The company is renowned for its battery R&D and advancements in the EV supply chain. As per its website, BYD is the first and only automaker to produce the following: its own powertrain systems, power batteries, motors, motor controller systems, and automotive semiconductors.
About UzAuto
Uzavtosanoat JSC is the biggest producer of both passenger and commercial vehicles in Uzbekistan. It has a 95% market share in the local market and full-cycle assembly and component production.
UzAuto reached the highest sales volume for two years in a row in 2020 with its offshore production in Kazakhstan. It has also begun foreign production in Azerbaijan and is currently developing the export potential to nearby nations.
“BYD is the world’s leading new energy vehicle manufacturer. Synergy of BYD technology with UzAuto manufacturing capabilities will promote the widespread use of new energy vehicles in Uzbekistan as well as in neighbouring countries.”
UzAuto’s Chairman of the Board, Mr. Urmzakov Shavkat
The JV will indeed help the automotive sector’s sustainable development worldwide. It would serve as the cornerstone of a new generation of sustainable transportation, setting the groundwork for the widespread introduction of NEVs.
