In the heart of Central Asia, Uzbekistan's automotive scene is shifting gears fast. With a vibrant mix of new energy vehicles and steady investments, the market is clearly on the move. 🚗
Ivan Cao, managing director of BYD Central Asia, recently shared his vision at the IV International Investment Forum in Tashkent, stating that "monopoly is not an option" in this evolving landscape. He noted that as more Chinese brands enter the market, consumers enjoy a broad selection—from traditional internal combustion engine vehicles to innovative electric and hybrid models.
BYD’s manufacturing plant, established in Uzbekistan in 2024, has already produced over 10,000 vehicles. With an annual capacity of 50,000 vehicles and plans to produce 20,000 to 25,000 electric cars locally by 2025, the company is not only fueling domestic growth but also eyeing export opportunities with local collaborators.
The surge in new energy vehicles is impressive, with the market share reaching over 15% in 2024 and expected to climb past 20% this year. Innovations such as the Uzbek-language interface—pioneered by BYD—are setting new standards and spurring healthy competition among manufacturers.
The IV International Investment Forum, which drew over 8,000 participants including investors, government officials, and business leaders, underscored Uzbekistan's rising investment appetite and industrial potential. It was a showcase of how openness and innovation are propelling the country toward a greener, more competitive future.
As Uzbekistan's streets prepare for a surge of innovation, the automotive market is set to become a dynamic hub of technology and healthy competition. Buckle up—the future of driving in Uzbekistan is charging ahead! ⚡️
Reference(s):
"Monopoly is not an option": BYD official on Uzbekistan's car market
cgtn.com
