Chinese EV Popular in Central Asia – Industry News 2307

Jul 7, 2023 | Industry News

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Preface

Chinese EV popular in Central Asia

The demand for Chinese electric vehicles in the global market is growing, particularly in Central Asia. According to statistics, China’s automobile exports to Central Asian countries reached $500 million in the first quarter of this year, marking a 121% increase compared to the previous year, the chinese EV popular in Central Asia.

Chinese EV popular in Central Asia

Detail Analysis

The automotive industry has become a significant area of cooperation between China and Central Asia. In 2022, three major Chinese automakers – Chery, Changan, and Great Wall Motors – signed agreements with Kazakhstan’s Astana Automobile Company to invest $1.55 billion. Additionally, BYD is establishing its second overseas factory in Uzbekistan after the one in Thailand… With the deepening implementation of the Belt and Road Initiative, an increasing number of Chinese car companies are investing in Central Asia which makes it a crucial field for collaboration between China and Central Asia.

Uzbekistan, the largest automotive market in Central Asia, is currently undergoing a transition towards vehicle electrification. In March of this year, BYD held a brand and product pre-sale launch event in Uzbekistan to introduce three new models. Additionally, several stores have officially opened since March.

Currently, BYD has developed a long-term plan for localizing operations in Uzbekistan. Both parties have established a joint venture in Uzbekistan, with a focus on manufacturing new energy vehicles and their related components.

During the recent China-Central Asia Summit, Yutong Bus and relevant companies in Kazakhstan signed an agreement to establish an “Automotive Industry Technology and Engineering Personnel Training Center” with the aim of jointly carrying out talent cultivation in the automotive industry, strengthening cooperation within this sector, and exchanging experiences.

From product output to technological output, and then to service output, the localization of China’s automotive industry in Central Asian countries is gradually deepening. The overseas representative of Yutong Bus stated that, benefiting from the broad platform provided by the Belt and Road Initiative, Yutong has achieved significant social benefits in its development in Kazakhstan. In the future, Yutong will continue to cultivate the Kazakhstani market and make new contributions to jointly building a green Belt and Road.

Tursonali Kuziev, a professor at the University of Journalism and Mass Communications in Uzbekistan, has stated that the automotive industry is becoming an important area of cooperation between China and Central Asian countries. Strengthening collaboration with Chinese new energy vehicle companies will contribute to the popularization and promotion of new energy vehicles, facilitate green and low-carbon transformation, and further drive the development of the Central Asian market for new energy vehicles.

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