BAKU, Azerbaijan, March 20. Azerbaijan Energy Automotive Factory LLC was granted the status of a resident of Sumgayit Chemical Industrial Park, Trend reports via the Agency for Development of Economic Zones.
Meanwhile, in November last year, Azerbaijan Energy Automotive Factory LLC was granted the status of a resident of Sumgayit Chemical Industrial Park under the jurisdiction of the Agency for Development of Economic Zones under the Ministry of Economy within the framework of an agreement with Chinese company BYD Company Limited (BYD) on localizing the production of electric buses in Azerbaijan.
According to the information, the production of buses with electric motors on the territory of the industrial park will be carried out by the newly registered residents.
A total of 600 people will be employed within the framework of the project worth over 29 million manat ($17.05 million).
Moreover, the enterprise, which will use the advanced technologies of China, is expected to start its work this year.
The electric motor buses to be produced by the company will be sold under the BYD brand name. At the initial stage, the BYD “K9UD” model buses with a length of 12 meters will be produced. The annual production capacity of the company will be 500 buses.
The production of these buses will initially be aimed at meeting domestic demand, and at a later stage will be exported.