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BYD and UzAuto set up a joint venture to accelerate the promotion of new energy vehicles

BYD and UzAuto set up a joint venture to accelerate the promotion of new energy vehicles

It is reported by BYD on December 30, BYD signed a joint venture agreement with UZAVTOSANOAT JSC (hereinafter referred to as “UzAuto”). The two parties established a joint venture company to focus on the production of new energy vehicles and related parts. The joint venture will be located in Uzbekistan, and will mainly produce BYD’s best-selling new energy models in the future, including DM-i super hybrid models and related components.

BYD started in the battery business in 1995. It is the only company in the world that masters the core technologies of electric vehicles such as batteries, motors, and electronic controls, and can provide overall solutions for new energy including electric vehicles and power batteries.
As the world’s leading new energy vehicle leader, BYD has a complete new energy vehicle industry chain layout and provides one-stop new energy overall solutions. As of November 2022, BYD’s global sales of new energy vehicles has exceeded 3 million units.
Adhering to an open and inclusive cooperative attitude, BYD continues to strengthen cooperation with international companies in the development of vehicle electrification, and is committed to working with partners to promote the global transformation of vehicle electrification.

Founded in 1994, UzAuto is the largest automaker in Central Asia and the only automaker with a complete auto industry layout. It has a huge local and inter-regional sales network and a complete after-sales service system. UzAuto has won a 95% share of Uzbekistan’s auto market by virtue of its excellent management capabilities and outstanding business level. In 2020, relying on Kazakhstan’s overseas production, UzAuto has achieved the number one sales in the domestic market for two consecutive years. UzAuto is continuing to expand exports to neighboring countries and has started overseas production in Azerbaijan.

Shu Youxing, General Manager of BYD’s International Cooperation Division and European Branch, said: “We are very pleased to cooperate with UzAuto to accelerate the localized production of BYD’s new energy vehicles in Uzbekistan. Cooperation is the core part of BYD’s strategy. We look forward to bringing BYD’s leading technology and first-class products to Uzbek consumers through cooperation with UzAuto.”

Mr. Urmzakov Shavkat, chairman of UzAuto’s board of directors, said: “The cooperation between BYD’s advanced technology and UzAuto’s strong manufacturing capabilities will accelerate the promotion of new energy vehicles in my country and surrounding areas. The establishment of the joint venture is only the beginning of the long-term strategic cooperative relationship between the two parties. I believe that we will have more opportunities to further expand cooperation in the future.”

Uzbekistan is the most populous country in Central Asia. It has rich mineral resources and diversified renewable energy sources. The automobile industry chain is relatively well developed, which is of great significance to the global layout of the new energy automobile industry. Through the newly established joint venture, BYD and UzAuto will work together to accelerate the popularization and promotion of new energy vehicles, promote green and low-carbon transformation, and further promote the development of new energy vehicle markets in Central Asia and other regions.