BYD introduced three models in Uzbekistan and its three pioneering stores in Tashkent will open in March. | [eod_live target="BYDDY.US"] | [eod_live target="1211.HK" title="BYD HK"]
(Image credit: BYD)
BYD (OTCMKTS: BYDDY) made its brand debut in Uzbekistan and introduced three models to local consumers, as the largest Chinese manufacturer of new energy vehicles (NEVs) continues to advance its efforts in the international market.
BYD held a brand debut and product pre-sale event in Uzbekistan on March 16, and several of its local dealership stores are set to open this month, according to a press release Friday.
BYD introduced three models at the event, including the Han EV, an all-electric sedan; the Song Plus DM-i, a hybrid model; and the hybrid Chazor DM-i, known as the Destroyer 05 in China.
Uzbekistan, the largest automotive market in Central Asia, is transitioning toward vehicle electrification, and BYD will bring industry-leading blade battery and DM-i super hybrid technology to local consumers, the release said.
Three pioneering BYD stores in Uzbekistan's capital Tashkent will open in March: a BYD flagship store and technology museum, a comprehensive BYD brand experience center and a BYD city showroom.
It is worth noting that BYD has already made some previous moves to pave the way for its long-term growth in Uzbekistan.
In February 2022, BYD and Uzavtosanoat JSC (UzAuto) signed a mutual memorandum of understanding, agreeing to study the feasibility of joint production of electric passenger cars and electric buses in the Central Asian country.
UzAuto, established in 1994, is the largest and only car manufacturer in Central Asia with a complete automotive industry footprint and an extensive local and inter-regional sales network and after-sales service system.
On December 30, 2022, BYD announced that it had signed an agreement with UzAuto to establish a joint venture that will focus on the production of NEVs and their components.
The joint venture will be based in Uzbekistan and will focus on the future production of several of BYD's best-selling NEV models, including the DM-i Super Hybrid, and related components, according to a BYD press release at the time.
BYD, the world's largest maker of NEVs, sold 193,655 vehicles in February, up 27.96 percent from 151,341 units in January and up 119.36 percent from 88,283 units in the same month last year, according to figures it announced earlier this month.
In February, BYD sold 15,002 NEVs in overseas markets, up 44.13 percent from 10,409 units in January.
In addition to announcing its business progress in Uzbekistan, BYD also announced on Friday that it entered into a partnership with UAE dealer Al-Futtaim on March 15.