Fri 01 2020 11:58:11
Tashkent, Uzbekistan (UzDaily.com) - An agreement was signed between Uzavtosanoat, Sinotruk International Investment Limited and MAN Truck & Bus SE to create a joint venture UZ TRUCK AND BUS MOTORS based on the existing company MAN Auto-Uzbekistan.
As a result of this, Sinotruk became one of the founders of the MAN Auto-Uzbekistan, having made foreign direct investments in the authorized capital of the enterprise in the amount of US$12.1 million.
The choice of such a partner as “Sinotruk” is due to important factors such as the popularity of this equipment on the market of Uzbekistan and Central Asian countries, the availability, quality and wide range of products, also since 2009 25% plus 1 (one) share of the company “Sinotruk” belong to the German concern MAN Truck & Bus SE (one of the founders of JV MAN Auto-Uzbekistan LLC).
Investments will be directed to increase production capacity from 3 thousand to 6 thousand units of commercial vehicles per year, the development of production of new models and the localization of components. This project will create more than 100 additional jobs, increase the export potential of the enterprise, as well as gradually increase the localization level of manufactured commercial vehicles to 50%.
This decision was made in order to saturate the market with more budgetary and at the same time high-quality trucks that will be competitive and accessible to customers, increase competition between different brands within the republic, and also develop production of machinery with a carrying capacity of 5 to 70 tons, including mining dump trucks.