BYD and UzAuto Announce to Establish a Joint Ventu...
BYD (Build Your Dreams) and Uzavtosanoat JSC (UzAuto) announced today the signing of an agreement to establish a joint venture company producing new energy vehicles (NEVs). The new joint venture company, which will manufacture the best-selling NEVs including the DM-i super hybrid models and related parts, is anticipated to be based in Uzbekistan.
Founded in 1995, BYD is now the world’s leading NEV manufacturer. It has more than 27 years of experience in battery research and development and is renowned globally for pioneering innovations including ownership of the complete electric vehicle supply chain. BYD is the only NEV producer to have developed its own powertrain systems, power batteries, automotive semiconductors, motors and motor controller systems. Strong cooperation with other international enterprises on the development of vehicle electrification is part of the core business strategy. As of November 2022, BYD has sold over 3 million NEVs to global customers.
Established in 1994, UzAuto is the region’s largest passenger and commercial vehicle manufacturer with full-cycle production and component manufacturing. In addition to the 95% share in the domestic market, in 2020, UzAuto achieved the number one sales volume for two consecutive years with overseas production in Kazakhstan. UzAuto continues expanding export opportunities to neighboring countries and has launched overseas production in Azerbaijan.
On the establishment of the new joint venture company, Michael Shu, General Manager and Managing Director of BYD Europe and International Cooperation Division, said, “We are delighted to be working with UzAuto on this important milestone to expand the production of new energy vehicles in the Uzbekistan region. Collaboration is a core part of the BYD strategy, and it is important to work with other corporations who share the same vision. We look forward to delivering our class-leading products and technologies to new consumers through this joint venture.”
Chairman of the Board, UzAuto, Mr Urmzakov Shavkat, commented, “BYD is the world’s leading new energy vehicle manufacturer. Synergy of BYD technology with UzAuto manufacturing capabilities will promote the widespread use of new energy vehicles in Uzbekistan as well as in neighbouring countries. Establishing the joint venture and bringing the latest technology is just the beginning of the long-term strategic partnership of our companies. UzAuto is very pleased to be collaborating with BYD and we believe there are vast opportunities to further expand our cooperation in the future.”
With the newly established joint venture, UzAuto and BYD aim to work together to further develop the new energy vehicle market in Central Asia and beyond by promoting their widespread adoption and environmental benefits.
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About BYD
BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.
About BYD Europe
BYD Europe is headquartered in the Netherlands and is the first overseas branch of BYD Group, with a commitment to delivering safe and efficient sustainable solutions in new energy vehicles through world-leading technological innovations.
About BYD Auto
Founded in 2003, BYD Auto is the automotive subsidiary of BYD, a multinational high-tech company devoted to leveraging technological innovations for a better life. Aiming to accelerate the green transition of the global transportation sector, BYD Auto focuses on developing pure electric and plug-in hybrid vehicles. The company has mastered the core technologies of the entire industrial chain of new energy vehicles, such as batteries, electric motors, electronic controllers, and automotive-grade semiconductors. It has witnessed in recent years significant technological advancements, including the Blade Battery, the DM-i and DM-p hybrid technology, the e-Platform 3.0, and the CTB technology. The company is the world’s first carmaker to stop the production of fossil-fueled vehicles on EV shift and has remained top of new energy passenger vehicle sales in China for 9 years in a row.
UzAuto is the largest automotive holding company in Central Asia with more than 70 subsidiaries in its structure and more than 27 thousand employees. UzAuto companies produce a whole range of vehicles from light passenger vehicles to heavy duty trucks, buses, trailers and superstructures with an annual production volume of more than 350 thousand vehicles per year. UzAuto is expanding its production capacity by 500 thousand by end of 2023 and 1 million vehicles by 2027. With more than 60 % localization level UzAuto have all major component parts manufacturing enterprises including engines, chassis components, electrical as well as exterior and interior parts.
Moreover, UzAuto has in trust management the largest in Central Asia agricultural machinery manufacturing companies with annual production volume of more than 15 thousand units per year. The company is increasing its presence in export markets and aims to reach $1 Bn export sales by 2026 with 2 current JV production facilities in Kazakhstan and Azerbaijan.
BYD (Build Your Dreams) and Uzavtosanoat JSC (UzAuto) announced today the signing of an agreement to establish a joint venture company producing new energy vehicles (NEVs). The new joint venture company, which will manufacture the best-selling NEVs including the DM-i super hybrid models and related parts, is anticipated to be based in Uzbekistan.
Founded in 1995, BYD is now the world’s leading NEV manufacturer. It has more than 27 years of experience in battery research and development and is renowned globally for pioneering innovations including ownership of the complete electric vehicle supply chain. BYD is the only NEV producer to have developed its own powertrain systems, power batteries, automotive semiconductors, motors and motor controller systems. Strong cooperation with other international enterprises on the development of vehicle electrification is part of the core business strategy. As of November 2022, BYD has sold over 3 million NEVs to global customers.
Established in 1994, UzAuto is the region’s largest passenger and commercial vehicle manufacturer with full-cycle production and component manufacturing. In addition to the 95% share in the domestic market, in 2020, UzAuto achieved the number one sales volume for two consecutive years with overseas production in Kazakhstan. UzAuto continues expanding export opportunities to neighboring countries and has launched overseas production in Azerbaijan.
On the establishment of the new joint venture company, Michael Shu, General Manager and Managing Director of BYD Europe and International Cooperation Division, said, “We are delighted to be working with UzAuto on this important milestone to expand the production of new energy vehicles in the Uzbekistan region. Collaboration is a core part of the BYD strategy, and it is important to work with other corporations who share the same vision. We look forward to delivering our class-leading products and technologies to new consumers through this joint venture.”
Chairman of the Board, UzAuto, Mr Urmzakov Shavkat, commented, “BYD is the world’s leading new energy vehicle manufacturer. Synergy of BYD technology with UzAuto manufacturing capabilities will promote the widespread use of new energy vehicles in Uzbekistan as well as in neighbouring countries. Establishing the joint venture and bringing the latest technology is just the beginning of the long-term strategic partnership of our companies. UzAuto is very pleased to be collaborating with BYD and we believe there are vast opportunities to further expand our cooperation in the future.”
With the newly established joint venture, UzAuto and BYD aim to work together to further develop the new energy vehicle market in Central Asia and beyond by promoting their widespread adoption and environmental benefits.
******
About BYD
BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.
About BYD Europe
BYD Europe is headquartered in the Netherlands and is the first overseas branch of BYD Group, with a commitment to delivering safe and efficient sustainable solutions in new energy vehicles through world-leading technological innovations.
About BYD Auto
Founded in 2003, BYD Auto is the automotive subsidiary of BYD, a multinational high-tech company devoted to leveraging technological innovations for a better life. Aiming to accelerate the green transition of the global transportation sector, BYD Auto focuses on developing pure electric and plug-in hybrid vehicles. The company has mastered the core technologies of the entire industrial chain of new energy vehicles, such as batteries, electric motors, electronic controllers, and automotive-grade semiconductors. It has witnessed in recent years significant technological advancements, including the Blade Battery, the DM-i and DM-p hybrid technology, the e-Platform 3.0, and the CTB technology. The company is the world’s first carmaker to stop the production of fossil-fueled vehicles on EV shift and has remained top of new energy passenger vehicle sales in China for 9 years in a row.
UzAuto is the largest automotive holding company in Central Asia with more than 70 subsidiaries in its structure and more than 27 thousand employees. UzAuto companies produce a whole range of vehicles from light passenger vehicles to heavy duty trucks, buses, trailers and superstructures with an annual production volume of more than 350 thousand vehicles per year. UzAuto is expanding its production capacity by 500 thousand by end of 2023 and 1 million vehicles by 2027. With more than 60 % localization level UzAuto have all major component parts manufacturing enterprises including engines, chassis components, electrical as well as exterior and interior parts.
Moreover, UzAuto has in trust management the largest in Central Asia agricultural machinery manufacturing companies with annual production volume of more than 15 thousand units per year. The company is increasing its presence in export markets and aims to reach $1 Bn export sales by 2026 with 2 current JV production facilities in Kazakhstan and Azerbaijan.
