Runner Automobiles PLC, a subsidiary of Runner Group, will supply and manufacture cars of China's top electric car manufacturer BYD (BYD) in Bangladesh.
To this end, the company has signed a major supply and manufacturing agreement with BYD Auto Industry Company.
In an announcement made to the Dhaka Stock Exchange (DSE) on Tuesday (March 24), Runner Automobiles said that the signing of the agreement with BYD was approved at the company's board of directors meeting held on March 20.
The meeting also reviewed the company's current business situation.
The announcement said that this partnership could be an important milestone for the country's automobile industry.
It is expected that this will create opportunities for technology transfer as well as increasing the production of electric cars at the local level.
Citing BYD's reputation in building electric cars worldwide, the board of directors expressed optimism about the positive impact of this strategic partnership.
Following this announcement, the share price of Runner Automobiles also showed a positive reaction in the stock market.
According to DSE data, the company's share price rose by about 10% to Tk37.50, which was Tk34.10 on the previous business day.
Earlier, BYD officially started selling electric cars in Bangladesh in 2024.
Since then, CG-Runner Bangladesh Limited, a company of the Runner Group, has been working as the company's distributor.