Electric vehicle (EV) production at the BYD Uzbekistan Factory, a joint venture backed by largest EV manufacturer in the world BYD Auto of China, has been inaugurated by Uzbek President Shavkat Mirziyoyev, the Uzbek presidency has announced.
The completion of the first phase of the $160mn project will enable annual output at the factory in central-east province Jizzakh to reach 50,000 EVs.
Equipped with machinery and robotic systems from China, the plant also boasts a state-of-the-art laboratory for precision testing of vehicle dimensions.
Currently, the plant produces the Chazor and Song Plus Champion models.
Mirziyoyev signed the first electric car to roll off the assembly line.
Future plans include expanding the range of models and increasing production capacity.
The second phase, costing $300mn, aims to shift manufacturing up to 200,000 EVs per year.
The third phase, with an additional investment of $500mn, will boost production to 500,000 EVs annually.
Alongside vehicle production, the factory will work on developing local manufacturing of required parts.
Initial efforts will focus on bumpers, glass and plastic components, with plans to establish new enterprises for producing batteries, electric motors, aluminium parts, tyres and seats.
Currently employing 1,200 people, the plant's workforce is expected to grow to 10,000 once all three phases are completed.
Related Articles
Kenya, South Korea sign MoU on nuclear research reactor project at IAEA conference in Vienna
Kenya and South Korea have agreed to deepen cooperation on nuclear research and development, signing a memorandum of understanding focused on the Kenya Nuclear Research Reactor (KNRR) project at ... more
US sanctions Indian petchem traders over Iran deals
The US Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned six Indian companies for their involvement in trading petrochemicals produced in Iran, according to a report released by ... more
Power of Siberia 2 gas pipeline deal with China to cut Russian domestic supplies
Completing the Power of Siberia 2 (POS2) gas pipeline linking China to Russia’s Yamal gas fields may reduce the amount of gas available to the domestic market, Russian Energy Minister Sergey ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago