Tashkent, Uzbekistan (UzDaily.com) -- The Chinese company China Xiaou Group intends to launch a car assembly plant in Ferghana region.

According to the press service of the khokimiyat of Ferghana region, a delegation from the region is visiting China.

During the visit, an Agreement on the establishment of an enterprise worth US$1.5 billion was signed.

The document was signed by the khokim of Ferghana region Khayrullo Bozarov and the head of China Xiaou Group Huang He.

At the first stage of the project, US$50 million will be invested in creating car assembly and painting lines.

It is planned that the annual production volume will be 60 thousand cars and electric vehicles.

In the second and third stages, the investor plans to invest US$350 million and US$1.1 billion, respectively. This will allow us to localize production and increase car production to 100 thousand units per year.

The delegation led by the khokim of Ferghana region Khayrulla Bozarov also visited the BAIC Bluepark Magna automobile plant located in Zhengjiang, which is a partner of the China Xiaou Group, and got acquainted with the production processes of electric vehicles. 

Specializing in the development and research of new car models, this enterprise produces more than 150,000 electric vehicles per year, mainly Arcfox, but also Stelato models using BJEV and Huawei technologies.

The head of China Xiaou Group, Huang He, presented the technological processes that will be implemented as part of an investment project in Uzbekistan, using the example of the BAIC Bluepark Magna automobile enterprise.