The venture involves BYD Auto, the Chinese entity that surpassed Tesla in 2022 as the leading seller of electric vehicles, and Uzavtosanoat JSC,
according to Eurasianet.
The construction of an assembly facility in Uzbekistan’s Jizzakh Region is well underway. BYD CEO Wang Chuanfu traveled to Tashkent for the JV’s signing ceremony: the agreement “provides for foreign direct investment by the Chinese company in the ongoing project".
No details were disclosed on when vehicles will start rolling off the assembly line. An initial annual production target is 50,000 vehicles per year. Output is expected to reach 300,000 per year at the conclusion of the venture’s start-up phase, Uzbekistan’s Ministry of Investment said in a
statement.
While in Uzbekistan, Wang
met with Uzbek President Shavkat Mirziyoyev; discussions focused on expanding the scope of the JV’s operations, including parts localization and boosting export. The Uzbek JV appears to be part of an ambitious plan to turn BYD into a global powerhouse. “It’s time for Chinese automakers to upend the order of the global auto industry and chart a course into a new vast territory,” the South China Morning Post
quoted Wang as saying in August.
