Follow us:
  • Facebook
  • Twitter
  • Google+
  • AppStore
  • RSS
Azernews.Az
Sunday January 24 2021
  • Latest
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel
Home
  • Home
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel

Hyundai plans to start electric vehicle production in Uzbekistan

7 May 2019 11:18 (UTC+04:00)
4 915

By Abdul Kerimkhanov

Uzbekistan and South Korea build mutually beneficial relationships, starting with economy and investments and ending with global security issues.

The South Korean company Hyundai plans to start production of electric vehicles in the Kokand free economic zone, Podrobno.uz reported.

The President of Uzbekistan Shavkat Mirziyoyev was presented this project during his visit to the Fergana region. Mirziyoyev approved it and noted the need to pay special attention to quality and to meeting the deadlines for its implementation, the presidential press service informed.

Earlier, the South Korean company representatives announced plans to build a plant in Namangan region with an annual production capacity of 3,000 trucks and buses. The enterprise will assemble trucks with a carrying capacity from one to 50 tons, as well as intercity, international and tourist buses, and special vehicles.

"At the first stage, 8-20 cars per day and 1,000 cars per year will be produced here. Within three years, this figure will be increased to 3,000, that is, 2,000 trucks and 1,000 buses,” Hyundai noted.

Initially, the spare parts will be imported from South Korea, but then, in accordance with the localization program for three years, the production of components will be gradually mastered in Uzbekistan.

Diplomatic relations between Uzbekistan and the Republic of Korea were established on January 29, 1992.

Uzbekistan is the main trading partner of South Korea among the countries of Central Asia. Uzbekistan accounts for over half of the trade turnover of South Korea with the states of the region.

There are representative offices of more than 70 South Korean companies in Uzbekistan, and over 630 enterprises with South Korean investments. In 2018, more than 150 enterprises with South Korean investments were formed.

The main areas of their activity are oil and gas, petrochemicals and chemicals, mining, engineering, electrical engineering, textile, information and communication technologies, transport and logistics, tourism, production of building materials, as well as processing of agricultural products.

The volume of trade between the two countries amounted to more than $2 billion in 2018, which is 57 percent more than in 2017.

---

Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

Follow us on Twitter @AzerNewsAz

 

  • #HYUNDAI
  • #CAR PRODUCTION
  • #UZBEKISTAN

Related News

Uzbekistan abolishes Anti-Crisis Fund for mitigating COVID-19 effects

Uzbekistan abolishes Anti-Crisis Fund for mitigating COVID-19 effects

4 January 16:17
EBRD and Hamkorbank help set up new production line in Samarkand

EBRD and Hamkorbank help set up new production line in Samarkand

4 January 13:37
USAID assists Uzbekistan in joining International Plant Protection Convention

USAID assists Uzbekistan in joining International Plant Protection Convention

26 December 2020 14:51
Book on Azerbaijani literature published in Uzbekistan

Book on Azerbaijani literature published in Uzbekistan

24 December 2020 16:20
Uzbekistan, Italy ready to work on strengthening multifaceted co-op

Uzbekistan, Italy ready to work on strengthening multifaceted co-op

18 December 2020 18:00
Uzbekistan and Russia discuss prospects for expanding bilateral partnership

Uzbekistan and Russia discuss prospects for expanding bilateral partnership

12 December 2020 13:15
President of Uzbekistan makes phone call to President Ilham Aliyev

President of Uzbekistan makes phone call to President Ilham Aliyev

12 December 2020 10:00
ITFC to foster inclusive economic growth in Uzbekistan’s business community

ITFC to foster inclusive economic growth in Uzbekistan’s business community

9 December 2020 11:40
Uzbekistan to attract carbon credits to create forest plantations

Uzbekistan to attract carbon credits to create forest plantations

4 December 2020 16:15
Baku,Tashkent to produce joint films

Baku,Tashkent to produce joint films

4 December 2020 13:40
  • Latest
  • Popular
10:17 • Azerbaijan considering issues of regional schools damaged during Karabakh War
10:00 • Azerbaijani president expresses condolences to Ukranian counterpart
23 January 18:00 • Azerbaijan confirms 705 more COVID-19 recoveries
23 January 15:44 • Azerbaijan shares footage from Ashaghy Maralyan village of Jabrayil district
23 January 15:16 • Azerbaijan and Turkey ink MoU to support SMEs
23 January 15:00 • Standard & Poor's upgrades Azerbaijan's credit rating outlook
23 January 14:24 • Karabakh's geography allows developing various tourism products - Azerbaijan Tourism Board
23 January 14:05 • Cooperation on North-South Corridor to be researched during Iran’s FMA visit to Azerbaijan
23 January 13:40 • Azerbaijan producing lubricants based on new components
23 January 13:10 • Minister says Iran boosts oil export
23 January 12:37 • Azerbaijan to soon start issuing lump-sum subsidies to orchard farmers
23 January 12:00 • Cancelling SMS permits due to eased quarantine raises passenger traffic in Baku
23 January 11:40 • Socio-economic situation in Armenia deteriorating - Azerbaijani MP
23 January 11:15 • Azerbaijan to soon start issuing lump-sum subsidies to orchard farmers
23 January 10:40 • Armenian volunteers protest non-payment of compensation for fighting in Karabakh war
23 January 10:20 • Cargo transport via Baku Port up by 20 pct in 2020
23 January 10:00 • Azerenergy building new substation in liberated Shusha city [PHOTO]
22 January 19:50 • Azercell is always leading with its exemplary service quality
22 January 19:38 • Azerbaijan shows footage from Yukhari Abdurrakhmanli village of Fuzuli [PHOTO/VIDEO]
22 January 19:27 • Demand for notes of Central Bank of Azerbaijan exceeds supply
23 January 10:40 • Armenian volunteers protest non-payment of compensation for fighting in Karabakh war
23 January 15:16 • Azerbaijan and Turkey ink MoU to support SMEs
23 January 12:00 • Cancelling SMS permits due to eased quarantine raises passenger traffic in Baku
23 January 14:05 • Cooperation on North-South Corridor to be researched during Iran’s FMA visit to Azerbaijan
23 January 15:44 • Azerbaijan shares footage from Ashaghy Maralyan village of Jabrayil district
23 January 15:00 • Standard & Poor's upgrades Azerbaijan's credit rating outlook
23 January 13:10 • Minister says Iran boosts oil export
23 January 18:00 • Azerbaijan confirms 705 more COVID-19 recoveries
23 January 12:37 • Azerbaijan to soon start issuing lump-sum subsidies to orchard farmers
23 January 11:40 • Socio-economic situation in Armenia deteriorating - Azerbaijani MP
23 January 14:24 • Karabakh's geography allows developing various tourism products - Azerbaijan Tourism Board
23 January 13:40 • Azerbaijan producing lubricants based on new components
23 January 11:15 • Azerbaijan to soon start issuing lump-sum subsidies to orchard farmers
10:00 • Azerbaijani president expresses condolences to Ukranian counterpart
10:17 • Azerbaijan considering issues of regional schools damaged during Karabakh War
See more
AzerNews Newspaper
AzerNews
  • Facebook
  • Twitter
  • Google+
  • RSS

Information

About us Contacts Advertising Azernews In Print

News Archive

© 2021 AzerNews. All rights reserved