Manufacturing News

BYD plans EV exports to Iran

BYD Co., China's largest electric vehicle maker, has signed up Iranian carmaker Karmania to import its EVs to Iran and expand BYD's niche in the global EV market.

Under the agreement signed on Monday, Karmania -- Iran's largest carmaker -- also will distribute BYD's plug-in hybrids, electric buses and rechargeable batteries in Iran.

Iran is eager to control air pollution and offers tax breaks for EVs, BYD noted. The Chinese automaker did not disclose additional details about its export plans for Iran.

In recent years, BYD has made steady progress finding overseas markets for its EVs. Last week, BYD agreed to supply 21 electric-powered buses to Jeju Island, a popular vacation spot in South Korea.

And in October, BYD won a bid to provide a fleet of 11 electric buses to Cape Town in South Africa.

BYD has several EV assembly plants in China. The company also assembles the K9 electric bus in California and Scotland, and has agreed to build an EV assembly plant in Brazil.

In the first six months of this year, the company's sales of electric vehicles and plug-in hybrids soared 131 percent year on year to 49,000 units.

BYD is headquartered in the south China city of Shenzhen and is listed in Hong Kong and Shanghai. It is partly owned by U.S. billionaire Warren Buffett.

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