BYD and Uzavtosanoat JSC (UzAuto) have signed an agreement to establish a joint venture company producing new energy vehicles (NEVs).
The new joint venture company, which will manufacture NEVs including the DM-i super hybrid models and related parts.
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Established in 1994, UzAuto is described as the region’s largest passenger and commercial vehicle manufacturer with full-cycle production and component manufacturing. The company already cooperates with global OEMs such as General Motors, Sinotruck, MAN, and Isuzu. In addition to the 95% share in the domestic market, in 2020, UzAuto achieved the number one sales volume for two consecutive years with overseas production in Kazakhstan. UzAuto continues expanding export opportunities to neighbouring countries and has launched overseas production in Azerbaijan.
On the establishment of the new joint venture company, Michael Shu, General Manager and Managing Director of BYD Europe and International Cooperation Division, said: “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.”
Chairman of the Board, UzAuto, Mr Urmzakov Shavkat, added: “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. Establishing the joint venture and bringing the latest technology is just the beginning of the long-term strategic partnership of our companies. UzAuto is very pleased to be collaborating with BYD and we believe there are vast opportunities to further expand our cooperation in the future.”
With the newly established joint venture, UzAuto and BYD aim to work together to further develop the new energy vehicle market in central Asia.
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By GlobalDataUzAuto says it is the largest automotive holding company in central Asia with more than 70 subsidiaries in its structure and more than 27,000 employees. The company claims that with more than 60 % localization level, UzAuto has all major component parts manufacturing enterprises including engines, chassis components, electrical as well as exterior and interior parts.
