Today, BYD (Build Your Dreams) and Uzavtosanoat JSC (UzAuto) announced that they have signed an agreement to establish a joint venture for the production of vehicles powered by new energy sources.
This JV, which produces the most popular new energy vehicles, including DM-i superhybrid models and their components, is planned to be located in Uzbekistan.
Founded in 1995, BYD is now the world’s leading manufacturer of new energy vehicles. With more than 27 years of battery design and manufacturing experience, the company is world-renowned for its leading innovations, including full ownership of the electric vehicle supply chain.
Michael Shu, managing director of BYD Europe and International Cooperation Department, said: “We are pleased to cooperate with UzAuto in the important process of production of new energy vehicles in Uzbekistan. Mutually beneficial cooperation is the main basis of BYD strategy, and it is very important to cooperate with a company that is aligned with the same goal. Through this joint venture, we aim to develop and deliver our most modern products and technologies to customers”.
Shavkat Umurzakov, chairman of the board of Uzavtosanoat, said: “BYD is the world’s leading company producing cars powered by new energy sources. The combination of BYD technology and UzAuto production capabilities will accelerate the popularization of cars running on new energy sources in Uzbekistan and neighboring countries. Establishing a joint venture and mastering the most advanced technologies is the beginning of a long-term strategic cooperation of our companies. Uzavtosanoat is very pleased to cooperate with BYD and we believe that there are many opportunities to expand this cooperation in the future”.
Through the newly established joint venture, UzAuto and BYD companies aim to expand the use of vehicles powered by new energy sources, their environmental advantages, and further develop their market in Central Asia and beyond.
