Runner Secures Approval to Manufacture BYD Electric Vehicles in Bangladesh
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Domestic automaker Runner Automobiles has secured technical and regulatory approvals to assemble and manufacture BYD electric passenger cars locally in Bangladesh.
- Runner Automobiles will raise 250 crore BDT via preference shares for facility modernization.
- Authorized capital will be expanded from 200 crore BDT to 400 crore BDT upon regulatory approval.
- CG-Runner will maintain authorized imports while localized manufacturing lines are commissioned.
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Bangladeshi automotive manufacturing pioneer Runner Automobiles has received final government and regulatory approval to manufacture electric vehicles in partnership with Chinese clean-energy titan BYD. The technical collaboration agreement between Runner Auto and BYD was officially ratified by the Board of Directors of Runner Automobiles PLC, according to official disclosures made to the Dhaka Stock Exchange (DSE).
To fulfill the capital requirements for EV manufacturing and expand its assembly infrastructure, Runner Automobiles will increase its authorized capital and raise BDT 250 crore by issuing preference shares. At least 50 percent of the mobilized funds will subsequently be converted into equity capital to sustain heavy industrial scaling.
The strategic decisions were formalized during a board meeting of Runner Automobiles. As a publicly listed enterprise, Runner officially submitted the price-sensitive disclosure to both national stock exchanges. The company announced its authorized capital will be expanded from BDT 200 crore to BDT 400 crore upon requisite regulatory clearances.
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