According to the agreement, it is planned to establish local production in Azerbaijan and gradually increase the level of localization up to 40% until 2030.
Oku.Az informs that the Ministry of Economy has published information in this regard.
Increasing energy efficiency, making the transportation system safer, ecologically clean and reducing emissions into the atmosphere are among the main objectives of the sustainable development of our country. To this end, the Ministries of Economy, Digital Development and Transport and Finance are carrying out important works to renew our country’s bus fleet.
The signing ceremony of “Project Implementation Agreement” was held with China’s “BYD Company Limited” on the project of localization of electric bus production in Azerbaijan. The contract was signed by First Deputy Minister of Economy Elnur Aliyev, Deputy Minister of Digital Development and Transport Rahman Hummetov, Deputy Minister of Finance Azer Bayramov, CEO of BYD Company for Central Asia and the Caucasus Chao Shuan, founder and CEO of “SARDA Group” Rauf Khalilov and ” Tariyel Rustamov, director of LLC “Electrify Azerbaijan” signed. According to the agreement, within the framework of the project it is planned to establish the production of electric buses in Azerbaijan and localize spare parts , to gradually increase the level of localization up to 40% until 2030.
Based on the contract signed with the company, 160 BYD buses with electric motors were brought to our country as a pilot within the framework of the COP29 conference and put on the road.
First Deputy Minister of Economy, Elnur Aliyev, highlighted that the main objective of the project is to provide our country’s public transport system with cleaner and more efficient electric buses and expand the potential for local production. It was noted that the implementation of the project will create conditions for the application of high technologies in new production areas to be created in Azerbaijan and will ensure the creation of new jobs. It was stated that the signing of the agreement within the framework of COP29 demonstrates once again our country’s commitment to global efforts to combat climate change.
OJSC “Azerbaijan Investment Company” will participate as a shareholder in the project for the production of electric buses in our country. Azerbaijan’s BYD partner in the project is “Electrify Azerbaijan” LLC, owned by “SARDA Group”.
The joint venture to be created by the Chinese company BYD is scheduled to invest approximately $17.1 million in the electric bus production project at the plant to be built in the Sumgayit chemical industrial park. Taking into account domestic demand and export opportunities, the company plans to increase its annual production capacity to 500 units and create 600 new jobs.
At the same time, the BYD company plans to invest in new production areas to develop the value-added chain in our country. In the future, the company intends to cooperate in the production of electric light trucks, electric utility vehicles and electric passenger cars.
Founded in 1995, BYD is the global leader in sales of 3 million new electric vehicles by 2023, and is one of the world’s leading technology companies in the fields of automobile manufacturing, electronics, electric batteries, renewable energy and rail transport.
