Uzbekstan's Fergana region to spend $8.5mn setting up electric scooter production

Uzbekstan's Fergana region to spend $8.5mn setting up electric scooter production
/ Pixabay
By Alisher Kalandarov in Tashkent March 5, 2021

Uzbekistan’s eastern Fergana region intends to launch the production of electric scooters, as President Shavkat Mirziyoyev on March 2 inked a decree providing subsidies and benefits to entities engaged in the electrical industry.

According to the plans, new facilities will be located on the territory of the Kokand free economic zone.

Bicycle Trading Invest is set to invest $1.5mn to produce up to 4,500 electric scooters annually.

Another company, Velomax, has announced its readiness to channel $4mn towards the production of 20,000 scooters.

Technoworld is investing over $2.2mn and its annual production capacity is set to comprise 2,000 scooters.

In total, around $8.5mn will be spent in this direction, with most of the plants to be launched by the end of this year.

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