On November 22nd of the current year, a Memorandum of Understanding was signed between "Azerbaijan Investment Company" CJSC (AIC), China's "BYD Company Limited" (BYD), and "Electrify Azerbaijan" Which is a company established under "SARDA Group".

The project envisages the assembly of electric buses and the production of a range of spare parts in cooperation with "BYD" in Azerbaijan.

The construction of a factory on a designated 5-hectare land area in the Sumgayit Chemical Industry Park is planned, with the aim of producing 150-200 electric buses per year. In addition to meeting the domestic demand for electric buses, this initiative is expected to increase Azerbaijan's export potential.

BYD company, established in 1995, is considered one of the dynamic leading technology companies applying the latest innovations in the fields of electronics, automobile manufacturing, renewable energy, and railway transportation.