WORLD TRADE EXPO AZERBAIJAN

Chinese new energy vehicle companies cooperate with Azerbaijan to support its implementation of the “Green Unity Year” in 2024

On July 2nd, the Azerbaijani government held an online signing ceremony with Chinese new energy vehicle company BYD Co., Ltd. to purchase 160 electric buses. Azerbaijan’s Deputy Prime Minister Shahin Mustafayev presided over the signing ceremony, and the Acting Charg é d’affaires of the Chinese Embassy in Azerbaijan, Ding Tao, attended the event.

At the signing ceremony, Aliyev, First Deputy Minister of Economy of Azerbaijan, Humatov, Deputy Minister of Digital Development and Transport, Rustamov, Director of Electrify Azerbaijan Limited, and Tian Chunlong, General Manager of BYD Commercial Vehicle Division, signed a framework agreement on localized assembly and production of electric buses. Electrify Azerbaijan Limited Director Rustamov, Baku Bus Limited General Manager Garibov, and representatives from BYD Company have signed a supply agreement to provide 160 electric buses and 100 charging stations. This move aims to localize green energy production and contribute to Azerbaijan’s “Green Unity Year”.

According to reports, according to the agreement framework signed by both parties, in addition to the order to purchase 160 electric buses, the Azerbaijani government will also purchase 200 electric buses from BYD Company annually from 2025 to 2028 and carry out localized assembly. In the future, both parties plan to carry out deeper cooperation in local production.

At the beginning of this year, Azerbaijani President Aliyev signed an order declaring 2024 as the “Green Unity Year” of Azerbaijan, intending to build the Karabakh region, East Zangezur region, and Nakhchivan Autonomous Republic into “smart cities” and green energy bases. Azerbaijan has committed to reducing greenhouse gas emissions by 35% compared to 1990 by 2030, increasing the proportion of renewable energy generation to 30%, and reducing greenhouse gas emissions by 40% by 2050, becoming a “green and environmentally friendly country”. Currently, China has become a global leader in the field of new energy vehicles. The Azerbaijani government is increasingly aware of the importance of cooperation with Chinese companies and has repeatedly expressed its willingness to provide a favorable business and investment environment for Chinese investors.

It is worth mentioning that Azerbaijan will host the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) this year. The government hopes to attract Chinese new energy enterprises as investors, builders, and operators to participate in Azerbaijan’s national green energy transformation process through this conference.

From January to May 2024, the cumulative amount of auto commodities exported by China to the “the Belt and Road” countries will reach 51.32 billion US dollars, up 13.3% year on year, accounting for 55.2% of the total export of auto commodities. Among them, 1.565 million vehicles were exported, a year-on-year increase of 29.5%, accounting for 64% of the total automobile exports.

The Azerbaijani government and Chinese new energy vehicle company BYD Co., Ltd. reached multiple important agreements at an online signing ceremony, marking a deep cooperation between the two sides in promoting the development of electric vehicles and green energy.

The signing ceremony was presided over by Azerbaijani Deputy Prime Minister Shahin Mustafa Yev, and the Acting Charg é d’affaires of the Chinese Embassy in Azerbaijan, Ding Tao, also attended the event. Aliyev, the First Deputy Minister of Economy of Azerbaijan, Humatov, the Deputy Minister of Digital Development and Transport, Rustamov, the Director of Electrify Azerbaijan Limited, and Tian Chunlong, the General Manager of BYD Commercial Vehicle Division, signed a framework agreement on localized assembly and production of electric buses. At the same time, Rustamov, Director of Electrify Azerbaijan Limited, and Garibov, General Manager of Baku Bus Limited, signed a supply agreement with representatives of BYD Company, including the provision of 160 electric buses and 100 charging stations.

The signing of these agreements aims to support the “Green Unity Year” initiative announced by the Azerbaijani government, which plans to transform the Karabakh region, East Zangezur region, and Nakhchivan Autonomous Republic into smart cities and green energy bases. The Azerbaijani government has also committed to reducing greenhouse gas emissions by 35% compared to 1990 by 2030 and increasing the proportion of renewable energy generation to 30%. These cooperation measures not only promote the improvement of Azerbaijan’s localized production capacity, but also strengthen strategic partnerships with Chinese enterprises in the field of green technology.

In addition, Azerbaijan will host the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) and hopes to attract more Chinese new energy enterprises to participate in its national green energy transformation process through this platform. These measures indicate that the Azerbaijani government is willing to provide a favorable business and investment environment for Chinese investors, jointly promoting sustainable development and global environmental protection.