Tashkent, Uzbekistan (UzDaily.com) -- On 26 September, a solemn ceremony of signing the Investment Agreement “Organization of production of electric and hybrid vehicles and their components in Uzbekistan” took place between the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan and the Chinese conglomerate BYD.

According to the document, BYD Auto and Uzavtosanoat JSC will create a joint venture, BYD Uzbekistan Factory, to produce electric and hybrid cars in our country. The planned production volume at the first and second stages of the investment project will be 50 thousand units, and with the completion of the third stage the figure will reach 300 thousand cars.

As noted at the ceremony, BYD Uzbekistan Factory will become the first joint venture of the Chinese world leader in electric vehicles outside the PRC, which became possible thanks to the industrial, scientific and technical achievements of the Uzbek automotive industry and the investment attractiveness of Uzbekistan.

In 2022, the Chinese concern became the world leader in the production of cars powered by alternative energy sources.