BYD Uzbekistan Factory produces first electric car, investment to reach $1 bln

TASHKENT. June 27 (Interfax) - The BYD Uzbekistan Factory joint venture in Uzbekistan's Jizzakh region, which Uzbek President Shavkat Mirziyoyev visited on Thursday, has produced its first electric vehicle, the president's press office said.

The factory will produce the Chazor and Song Plus Champion.

It became operational in January. Investment in the first stage, which will produce around 50,000 vehicles per year, came to around $160 million.

The model range will expand in the next few years, with investment of $300 million in the second stage to increase capacity to 200,000 vehicles per year and a third stage costing $500 million raising it to 500,000.

Localization will increase gradually, starting with production of bumpers, windows, enameled and plastic components and progressing to batteries, electric motors, aluminum parts, tires and seats.

The company has 1,200 employees at present, but this will in time rise to 10,000.