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Issues of attracting investments in the electric vehicle industry of Uzbekistan discussed in Shanghai

Representatives of the Consulate General of Uzbekistan in Shanghai met with the chief executive officer of the manufacturer of electric vehicles under the Modern Auto brand, Liu Xin, Dunyo news agency reported.

Shanghai businessmen were provided with information about the investment climate in Uzbekistan and the benefits and preferences provided to foreign investors, as well as the ongoing work to modernize the automotive industry, including the creation of production facilities for international brands of cars.

It is emphasized that at present, there is a progressive increase in demand for modern electric vehicles in the domestic market of Uzbekistan.

Liu Xin informed that Modern Auto was founded in 2019 jointly with partners from Australia and the United States and headquartered in Shanghai. At present, the company manufactures and supplies to the Chinese market one kind of electric hatchback model, developed on the basis of modern technology and intelligent systems. The volume of annual production of this type of electric vehicle is 40 thousand units.

The Chinese businessman said that his company is currently developing two more models of sedan and SUV electric vehicles, and is also considering the possibility of entering its products into the international market and establishing cooperation with foreign countries. To this end, the issue of signing a memorandum of understanding with partners in Italy is being considered.

After a presentation about the promising automotive market in Uzbekistan, the management of Modern Auto expressed interest in establishing mutually beneficial partnerships with relevant companies in Uzbekistan.

As a result of the meeting, an agreement was reached that the Chinese side would consider the possibility of sending a delegation of Modern Auto to Uzbekistan to study the market and conduct further negotiations with relevant departments and potential partners on the prospects for creating the production of electric vehicles in Uzbekistan.