Build Your Dreams’ (BYD) momentum in global expansion continues to snowball into new markets, including Central Asia where the Chinese automaker is launching three models beginning this month. This includes the Han EV as well as two hybrid plug-ins.
BYD, short for “Build Your Dreams,” is a Chinese manufacturing conglomerate founded in 1995, although its automotive subsidiary didn’t evolve until eight years later. Still, BYD is touting two decades of automotive experience and has recently has the foresight to adapt to a new future propelled entirely by electrification.
In fact, the automaker recently built its final combustion vehicle, leaning further into its current status as one of the world’s largest plug-in EV manufacturers, despite most of its vehicles being sold solely in China. That status has shifted the past year or so however, as BYD has looked to expand outside of Asia to provide global access to its growing lineup of all-electric vehicles.
In the summer of 2022, BYD Auto shared plans expand further through Asia by begin selling its EVs in the Japanese market. That news was quickly followed by a vow to sell EVs in Germany and Sweden as well. Other markets have been announced since then including Norway, Denmark, the Netherlands, France, Belgium, and, most recently, the UK.
Now, BYD is turning its sights back on Asia and looking west, as it has announced entry into Uzbekistan, beginning with three electrified models available to order as early as this month.
Credit: BYD
BYD expands access to EV portfolio in Central Asia
The automaker announced the official launch during a BYD and Uzbekistan New Energy Vehicle Premiere event held on March 16, which shared the pre-sale pricing for three models seen above. The launch includes two PHEVs – the BYD Chazor, Song Plus DM-i, plus the all-electric BYD Han which we recently got to test drive for ourselves here in the States. Per the release:
The first BYD new energy vehicles arrived in Uzbekistan in March, with a second delivery already in progress and due early in April, bringing customers in Uzbekistan an all-new NEV experience thanks to cutting-edge hybrid DM-i and EV technologies developed by BYD.
Beginning in late March, BYD says it will open “Pioneer Stores” across Uzbekistan’s capital of Tashkent, beginning in the Sergeli district followed by a showroom in Oloy. A second Pioneer Store is slotted to follow in Yunusobod in early April.
BYD shared that preparations to enter the Uzbekistan market in Central Asia began in December of 2022 and have been made possible so quickly through a joint venture with UzAuto to assemble the EVs in the country. The Chinese automaker is describing its latest market entry as a foundation for “exciting collaboration in the future” that already includes cooperation with local dealers to provide BYD customers with localized sales and after-sales service and support.
The BYD models launched Central Asia are available to order this month.
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Members of media chat before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019.
Hamad I Mohammed | Reuters
Saudi Aramco on Tuesday posted a drop in second-quarter revenues, citing lower crude oil and refined chemical products prices that were only partially offset by higher traded volumes.
The world’s largest oil company declared an adjusted net income of 92.04 billion Saudi riyal ($24.5 billion) over the three months to the end of June. The result compares with a forecast of adjusted net income of $23.7 billion, according to an analyst survey estimate supplied by the company.
Second-quarter revenues dropped to 378.83 billion Saudi riyals from 425.71 billion Saudi riyal in the same period of the previous year.
“Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half,” Aramco CEO Amin Nasser said in a Tuesday statement accompanying the results.
Crude prices have stayed depressed over the course of the year, barring a brief second-quarter flare-up sparked by Israel-Iran tensions. Futures have been under pressure from an uncertain outlook for demand, exacerbated since April by the rollout ofWashington’s wide-spanning tariffs. The protectionist trade measures muddy the picture for growth in the world’s largest economy and the future of the U.S. dollar, which denominates most commodities — including crude oil.
Aramco’s income is set to see a boost from higher output, after Saudi Arabia – and seven other OPEC and non-OPEC partners — complete unwinding 2.2 million barrels per day of voluntary cuts through a last tranche in September. Saudi Arabia most recently produced 9.356 million barrels per day in June, according to independent analyst estimates compiled in OPEC’s Monthly Oil Market Report.
Aramco has increasingly tapped debt markets, with two issuances totalling $9 billion in the second half of 2024 and a three-part bond sale of $5 billion this year.
Front of mind for investors is the dividend policy at Aramco, which in March slashed investor returns for 2025 to $85.4 billion — down sharply from the $124.2 billion of 2024 — after a first-quarter decline in net profits. Aramco declared a base dividend of $21.1 billion and a performance-linked dividend of $0.2 billion in the third quarter.
The company’s dividend yield stood at 5.5% as of Monday, still ahead of U.S. industry peer Exxon Mobil‘s 3.6% and Chevron‘s 4.5%, according to FactSet data.
Aramco’s payouts ripple sharply into the budget of Saudi Arabia, which has been juggling diversifying its economy away from oil reliance under Crown Prince Mohammed bin Salman’s signature Vision 2030 program. Saudi Arabia’s gross domestic product expanded by 3.9% in the second quarter, boosted by non-oil activities.
More than 100,000 home batteries across California stepped up as a virtual power plant last week in a scheduled test event, and the results were impressive, according to new analysis from The Brattle Group.
Sunrun was the largest aggregator, Tesla was the largest OEM, and most of the batteries were enrolled in California’s Demand-Side Grid Support (DSGS) program.
Sunrun’s distributed battery fleet delivered more than two-thirds of the energy during a scheduled two-hour grid support test on July 29. In total, the event pumped an average of 535 megawatts (MW) onto the grid – enough to power over half of San Francisco.
The event, run between 7 and 9 pm, was coordinated by the California Energy Commission, CAISO (California Independent System Operator), and utilities to prepare for stress on the grid during August and September heat waves. And it worked.
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Sunrun alone averaged over 360 MW during the two-hour window. The batteries kicked in right when electricity demand typically spikes in the evening, acting just like a traditional power plant, but from people’s homes.
Brattle’s analysis found that the battery output made a visible dent in statewide grid load, when the power is needed most. “Performance was consistent across the event, without major fluctuations or any attrition,” said Ryan Hledik, a principal at The Brattle Group. He called it “dependable, planning-grade performance at scale.”
The Brattle Group
Residential batteries, Hledik explained, don’t just help shave off demand during critical hours; they can reduce the need for new power plants entirely. “They can serve CAISO’s net peak, reduce the need to invest in new generation capacity, and relieve strain on the system associated with the evening load ramp,” he said.
This isn’t a one-off. Sunrun’s fleet already helped drop peak demand earlier this summer, delivering 325 MW during a similar event on June 24. The company compensates customers up to $150 per battery per season for participating.
Sunrun CEO Mary Powell summed it up: “Distributed home batteries are a powerful and flexible resource that reliably delivers power to the grid at a moment’s notice, benefiting all households by preventing blackouts, alleviating peak demand, and reducing extreme price spikes.”
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Hyundai’s new Elexio electric SUV, which is built in China, could be sold in overseas markets. The CEO of Hyundai Australia calls it “a promising vehicle” that could help the company regain market share from Tesla, BYD, and others.
Will Hyundai’s new Elexio SUV be sold overseas?
The Elexio SUV is the first dedicated electric vehicle from Hyundai’s joint venture with BAIC in China, Beijing Hyundai.
According to a new report, Hyundai’s new electric SUV could be sold in overseas markets, including Australia. Don Romano, the CEO of Hyundai Australia, told journalists (via EV Central) last week during the launch event for the new IONIQ 9 that the company has done a “terrible job” with its EVs so far.
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“And the only explanation for that is that we haven’t put enough focus into it,” he explained. However, Romano promises the automaker will do better.
Hyundai plans to boost marketing and support its dealership network, which only began selling IONIQ EV models a little over a year ago.
The Hyundai Elexio electric SUV (Source: Beijing Hyundai)
In what mostly went under the radar, Romano also suggested the new Elexio SUV could arrive in Australia. “It’s under evaluation now,” he said, adding, “it’s definitely a promising vehicle.”
Despite this, it may have a few hurdles to clear. Hyundai’s Australian boss explained, “I still have work to do to ensure that it’s the right vehicle in the right segment at the right price for our market. And I have not reached that level yet.”
Hyundai Elexio electric SUV interior (Source: Beijing Hyundai)
Romano told journalists that a final decision needs to be made “in the next 60 to 90 days,” and to check back in three months when he will have a definitive answer.
Hyundai Australia is also looking to launch the IONIQ 2, a smaller, more affordable EV to sit between the Inster EV and Kona Electric.
Hyundai Elexio SUV (Source: Beijing Hyundai)
Romano said, “It’s a potential opportunity,” but didn’t provide any details. He said, at this point, he’s just glad Hyundai is producing it. “Now I just need to get the details and find out, will it fit into our overall product plan and create enough demand to where it becomes a viable option for us? So my initial thought is absolutely. Yep.” Hyundai Australia’s boss told journalists.
The new EVs would help Hyundai, which has been struggling to keep pace in the transition to electric, compete in Australia and other overseas markets.
Hyundai Elexio electric SUV during global testing (Source: Beijing Hyundai)
As of June 2025, Hyundai has sold only 853 EVs in Australia. In comparison, Tesla has sold 14,146 electric vehicles, and BYD has sold over 8,300. Even Kia is selling more EVs in Australia, with 4,402 units sold in the first six months of the year.
Measuring 4,615 mm in length, 1,875 mm in width, and 1,673 mm in height, Hyundai’s electric SUV is slightly smaller than the Tesla Model Y.
It recently underwent three consecutive crash tests among several other global evaluations, consistently outperforming benchmarks. Based on Hyundai’s E-GMP platform that powers nearly all Hyundai and Kia EVs, the Elexio has a CLTC driving range of up to 435 miles (700 km)
Hyundai is set to launch it in China in the third quarter of 2025. Prices have yet to be announced, but it’s expected to start at around 140,000 yuan ($19,500).
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