BYD inks investment agreement with Uzbekistan’s MIIT

Shanghai (Gasgoo)- On September 26, BYD signed an investment agreement with the Ministry of Investment, Industry and Trade ("MIIT") of the Republic of Uzbekistan, according to BYD's press release. The Uzbekistan authority pledged to provide policy support for BYD and UZAVTOSANOAT JSC ("UzAuto")'s joint venture (namely, BYD Uzbekistan Factory), encompassing the production of both complete vehicles and components.

From left: Mr. Rustamov Olimhon Bakiyevich, Deputy Minister of Investment, Industry and Trade of Uzbekistan; Mr. Urmzakov Shavkat, Chairman of the Board, UzAuto; Mr. Wang Chuanfu, Chairman and President of BYD; Mr. Michael Shu, Managing Director of BYD Europe; photo credit: BYD

Under the agreement, both parties have committed to establishing the complete production cycle for BYD vehicles in Uzbekistan, involving welding, painting, and assembly processes. Furthermore, the joint venture will make investments in enhancing the skills and knowledge of its employees. The agreement also grants the joint venture the right to export BYD vehicles produced in Uzbekistan, to Central Asian nations.

Jamshid Abduxakimovich Khojaev, Deputy Prime Minister of Uzbekistan, stated that Uzbekistan is deeply interested in the joint project and assured BYD representatives his readiness to provide them full support in this direction.

In December 2022, BYD and UzAuto inked an agreement to establish the joint venture "BYD Uzbekistan Factory." This factory, located in the Jizzakh region of Uzbekistan, is slated to commence production in 2024, focusing on two popular models, the BYD CHAZOR (a streamlined compact sedan) and the BYD SONG PLUS DM-i (C-segment SUV).

In March 2023, BYD introduced its lineup of new energy passenger cars to consumers in Uzbekistan, marking its debut with three distinct models. The aforementioned BYD CHAZOR and BYD SONG PLUS DM-i harness BYD's cutting-edge super hybrid technologies, offering impressive range and low fuel consumption. The third model, the BYD HAN EV, stands as a flagship executive sedan powered entirely by electricity. Since the launch, BYD has successfully delivered over 5,000 vehicles to customers in Uzbekistan and established seven official sales and service centers across the country.