Runner to manufacture Chinese BYD automobiles in Bangladesh
Runner’s share price rose following the announcement.
Runner Automobiles PLC has announced an agreement with China's BYD Auto Company Limited to manufacture vehicles in Bangladesh.
The companies signed the agreement today (24 March), according to the company source.
Shanat Datta, chief financial officer of Runner Automobiles PLC, said the agreement has been signed under which, Runner will conduct a feasibility study for the local production of all BYD EV and non-EV vehicles.
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The decision was approved at a board meeting on 20 March, where the company also reviewed its current business outlook.
The board authorised the signing of a master supply and manufacturing agreement with the Shenzhen-based BYD.
According to a disclosure filed on the Dhaka Stock Exchange, the partnership is expected to mark a significant milestone for Bangladesh's automotive sector, creating opportunities for local manufacturing and technology transfer.
Runner expressed strong confidence in the strategic potential of the collaboration, citing BYD's global standing in the industry.
Following the announcement, Runner's share price rose. Data from the Dhaka Stock Exchange showed the stock gained 2.93% to Tk35.1.
