JAC Group to form joint venture with Tashkent Investment for expansion in Uzbekistan

Shanghai (Gasgoo)- Chinese automaker JAC Group recently signed a joint venture agreement with Tashkent Investment Company Limited ("Tashkent Investment"), with both parties committing capital to establish a new joint venture in Tashkent, Uzbekistan, according to a post on JAC Group's WeChat account.

Photo credit: JAC Group

The joint venture will focus on the localized assembly of JAC Group's vehicles, automobile sales, and after-sales services within Uzbekistan. This initiative marks a new step forward in the two parties' cooperation under the Belt and Road Initiative, injecting strong momentum into the upgrading of the automotive industry and the promotion of green mobility across Central Asia.

JAC Group noted that the new venture aims to achieve complementary advantages by combining its leadership in advanced automotive manufacturing and intelligent technologies with Tashkent Investment's extensive local market resources and mature industry experience.

This partnership represents not only a new milestone in China-Uzbekistan economic and trade cooperation but also a vivid example of JAC Group's active participation in the Belt and Road Initiative. In recent years, JAC Group has established 19 overseas KD (knock-down) plants in regions including Kazakhstan and Mexico, with 16 of them located in Belt and Road partner countries. Looking ahead, the joint venture will also explore cooperation opportunities in areas such as new energy infrastructure and intelligent connected vehicle technologies, offering distinctive "China solutions" to support the region's high-quality economic development.