In the heart of Central Asia, Uzbekistan’s automotive landscape is shifting gears—fast. As the country embraces new energy vehicles, one company is steering the charge: BYD, the Chinese automaker known worldwide for its electric cars and battery technology.
Ivan Cao, Managing Director of BYD Central Asia, expressed confidence that Uzbekistan’s automotive market will remain competitive and free from monopoly. He shared his insights in an interview with a Daryo correspondent during the IV International Investment Forum currently underway in Tashkent.
The forum, organized by the Ministry of Investments, Industry and Trade, brings together key players to discuss investment opportunities and industrial development in Uzbekistan. One of the main panel discussions focused on the country’s evolving automotive industry, where Ivan Cao participated and later spoke with Daryo.
BYD established its manufacturing plant in Uzbekistan in 2024 and has already produced over 10,000 vehicles. In 2024, approximately 30,000 to 35,000 BYD cars were sold domestically.
“We currently manufacture two models locally, and by the second half of this year, a third model will be launched in Uzbekistan. While some models are still imported, they account for less than a third of our annual planned volume,” Ivan Cao explained. “We are also developing a voice assistant in the Uzbek language, expected to launch in September 2025.”
The BYD factory in Uzbekistan has an annual capacity of 50,000 vehicles, with plans to increase production steadily.
“By 2025, we aim to produce 20,000 to 25,000 electric cars locally. We are also exploring export opportunities to neighboring countries in partnership with local collaborators,” he added.
Addressing the market landscape, Ivan Cao emphasized that monopoly is no longer possible in Uzbekistan’s automotive sector.
“The market is opening and liberalizing. Numerous Chinese brands are entering Uzbekistan, which will foster healthy competition. Buyers now have a wider choice—from internal combustion engine vehicles to electric and hybrid models. Innovations like the Uzbek-language interface, which we pioneered, are now being adopted by other manufacturers as well. Every day, new players enter, improving the overall experience for consumers. In this environment, monopoly simply cannot exist.”
Highlighting BYD’s strengths, Ivan Cao noted several competitive advantages:
- Scale: BYD produced and sold over 4mn cars globally last year, with a goal of 5mn this year. This scale enables cost efficiency.
- Vertical Integration: BYD manufactures 80% of its components in-house—from batteries to microchips—giving it a 3-5 year technological lead over competitors.
- Localization: BYD customizes its products to meet local market demands, ensuring affordability, advanced technology, and comfort.
“These factors position BYD strongly in Uzbekistan’s growing automotive market,” Ivan Cao said. “We see huge potential in Uzbekistan’s market. We’re excited to be part of the country’s transition toward sustainable transportation and development.”
Uzbekistan’s market for new energy vehicles, including electric and hybrid cars, is growing rapidly. Market share exceeded 15% in 2024 and is expected to surpass 20% this year, meaning one in five cars sold is a new energy vehicle. This growing share reflects the country’s expanding charging infrastructure and increasing consumer interest in clean energy vehicles.
“Once infrastructure is fully developed, electric cars will become the obvious choice,” Cao predicts.
The International Investment Forum will conclude on June 12. Over 8,000 participants—including government officials, investors, and business leaders—are attending. The forum also features Uzbekistan’s first National Exhibition of industry and investment potential, with 90 companies from diverse sectors showcasing their products.
BYD Uzbekistan’s factory, located in Jizzakh, is a joint project with Uzavtosanoat and BYD Europe BV. The $122.6mn initiative focuses on producing electric and hybrid vehicles. While the initial plan targeted 50,000 vehicles for 2023–2024, production has reached around 10,000 cars so far.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)