TASHKENT, Uzbekistan, September 4. Chinese auto industry companies keen to invest in development of transport sector in Uzbekistan’s Fergana region, Trend reports.
Recently, representatives of Dongfeng Motor (car manufacturer), Luoyang Grasen Power Technology (specializes in the research and development, manufacture, sales, and service of new energy electric vehicle charging equipment) and Tunghsu Group (mainly develops, manufactures, and sells liquid crystal displays and plasma display panel glass substrates) visited the region to discuss possible future cooperation.
Dongfeng Motor plans opening production of electric buses, investing $45 million in the project. The volume of investments will rise to $50 million in 2025 to localize the production of batteries and other components for electric vehicles, as well as organize a maintenance service.
“Currently, 138 enterprises with Chinese capital operate in the region. Volume of Chinese investments in the region amounted to $375.1 million in 2022, and 25 new projects worth $1.2 billion are being developed with Chinese partners”, Governor of Fergana region Khayrullo Bozorov said.
Luoyang Grasen Power Technology company plans to launch the production of electric vehicle chargers in Uzbekistan. The company's potential investment in this project is estimated at $30 million. In addition, Tunghsu Group is ready to invest $50 million in a solar panel project.
Ties between China and Uzbekistan have strengthened after China started railroad cargo transportation from Zhangjiakou to Uzbekistan. The first shipment, consisting of car components, household appliances and textiles, left for the Uzbek capital on August 29, 2023.