Editor's note: The article was provided by Daryo. It reflects the author's opinions and not necessarily the views of CGTN.

In the heart of Central Asia, Uzbekistan's automotive landscape is shifting gears fast. As the country embraces new energy vehicles, one company is steering the charge: BYD, the Chinese automaker known worldwide for its electric cars and battery technology. 

Ivan Cao, managing director of BYD Central Asia, expressed confidence that Uzbekistan's automotive market will remain competitive and free from monopoly. He shared his insights in an interview with a Daryo correspondent during the IV International Investment Forum held in Tashkent.

The forum, organized by the Ministry of Investments, Industry and Trade, brought together key players to discuss investment opportunities and industrial development in Uzbekistan. One of the main panel discussions focused on the country's evolving automotive industry, where Ivan Cao participated and later spoke with Daryo.

BYD established its manufacturing plant in Uzbekistan in 2024 and has already produced over 10,000 vehicles. In 2024, approximately 30,000 to 35,000 BYD cars were sold domestically.

The BYD factory in Uzbekistan has an annual capacity of 50,000 vehicles, with plans to increase production steadily. 

"By 2025, we aim to produce 20,000 to 25,000 electric cars locally. We are also exploring export opportunities to neighboring countries in partnership with local collaborators," he added.

Addressing the market landscape, Cao emphasized that monopoly is no longer possible in Uzbekistan’s automotive sector. 

"The market is opening and liberalizing. Numerous Chinese brands are entering Uzbekistan, which will foster healthy competition. Buyers now have a wider choice — from internal combustion engine vehicles to electric and hybrid models. Innovations like the Uzbek-language interface, which we pioneered, are now being adopted by other manufacturers as well. Every day, new players enter, improving the overall experience for consumers. In this environment, monopoly simply cannot exist."

Uzbekistan's market for new energy vehicles, including electric and hybrid cars, is growing rapidly. Market share exceeded 15 percent in 2024 and is expected to surpass 20 percent this year, meaning one in five cars sold is a new energy vehicle. This growing share reflects the country's expanding charging infrastructure and increasing consumer interest in clean energy vehicles. 

"Once infrastructure is fully developed, electric cars will become the obvious choice," Cao said.

The International Investment Forum concluded on June 12, attracting over 8,000 participants — including government officials, investors, and business leaders. The forum also featured Uzbekistan's first national exhibition of industry and investment potential, with 90 companies from diverse sectors showcasing their products.