South Korean Hyundai intends to start production of electric vehicles in Kokand, Uzbekistan. The cost of the project is 300 million dollars, the release of the first production electric car is expected by 2023.
Production of Hyundai cars in Kokand Free Economic Zone is scheduled to begin by 2023. Construction of a plant with a capacity of 10 thousand electric vehicles per year is planned to begin in 2021. The South Korean Hyundai, Evergreen Motors (the official distributor of KIA and Hyundai in the CIS), the Ministry of Investments and Foreign Trade of Uzbekistan and Fergana regional khokimiyat (administration) are participating in the project worth 300 million USD. 1000 jobs will be created as a result of the project implementation.
This is not the first Hyundai project in the automotive industry. The company will also organize the assembly of trucks with carrying capacity from 1 to 50 tons, intercity and tourist buses, as well as special vehicles.