South Korean company plans to produce electric cars in Uzbekistan

21 September 2018 11:53 (UTC+04:00)

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By Kamila Aliyeva

South Korean Rooper teikom Co. Ltd plans to start production of electric cars in Asaka, the company’s director, Sung Ying Song said, Uzbek media outlets reported.

“The total cost of the project will be $2 million, and we plan to start manufacturing cars by the end of next year,” he told reporters.

Chinese companies are actively seeking to cooperate with Uzbekistan in this direction. For example, the Changan Automobile Group reported that the company intends to organize the production of electric cars in the Fergana Valley.

Investments in the amount of $15-$20 million in the creation of a site for a large-head assembly of over a thousand electric vehicles a year, where 100-150 people will work, are planned by Chinese automakers.

Foreign investors are confident that their cars will become worthy competitors to the gasoline Chevrolet Spark and Chevrolet Nexia, both in terms of price and quality.

At the second stage, full-scale localization of production will be organized with the attraction of the capacities of the neighboring enterprises of the republic, especially since the Fergana Valley is the heart of the domestic automobile industry. Dozens of large enterprises for the production of components are located here.

In general, the company intends to focus on the production of modern cars with a hybrid engine or fully electric one.

Most importantly, this company is not some kind of Chinese start-up, which is beginning to expand into international markets. Changan Automobile Group Co Ltd is part of the so-called “Big Four” of Chinese automakers that manufacture the largest number of cars. The car company has joint ventures with Ford Motor, Suzuki Motor, Mazda Motor and PSA Peugeot Citroen. Changan Headquarters is located in Chongqing.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva