By Li Panpan

(JW Insights) Sep 27 -- Chinese EV giant BYD has signed an agreement with Uzbekistan's state-controlled automobile group Uzavtosanoat JSC on producing electric and hybrid vehicles and their parts in the country, according to a statement on the website of the Ministry of Investment, Industry and Trade of Uzbekistan on September 26.

The project will be carried out in two phases. The planned annual output in the first and second phases is 50,000 vehicles. After completing the third phase, the annual production will reach 300,000 cars.

Since 2019, BYD passenger cars have entered countries and regions such as Norway, the Netherlands, Sweden, Germany, France, Australia, Israel, Japan, Thailand, Malaysia, India, Brazil, and Mexico. BYD exported 117,500 vehicles in the first eight months of this year and planned to set up factories in Thailand and Brazil.

Its Thai factory laid the foundation stone on March 10 this year and is expected to be put into production in 2024, with an annual production capacity of approximately 150,000 vehicles. BYD announced to invest R$3 billion ($601.46 million) to set up a factory in Brazil in July.