Runner to make BYD cars in Bangladesh

Runner Automobiles PLC is set to manufacture cars of Chinese electric vehicle maker BYD in Bangladesh, marking a strategic shift for the company beyond its traditional two- and three-wheeler business.

Runner has completed a technical agreement with BYD following a feasibility study, paving the way for local production of BYD electric cars. The company will invest in factory expansion and machinery for EV manufacturing, according to a disclosure on Dhaka Stock Exchange website yesterday.

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The move comes as Runner’s financial performance is recovering from a sharp downturn. Standalone revenue rose 28 percent to Tk 563 crore in FY2024-25, while operating profit increased to Tk 110 crore. Net profit recovered to Tk 7 crore from a loss of Tk 70 crore in FY2022-23.

However, high financial expenses continue to weigh on earnings, making the EV investment both a growth opportunity and a financial challenge.

Runner’s board has approved raising Tk 250 crore through preference shares, with at least half of the proceeds to be converted into equity later. The company also plans to double its authorised capital to Tk 400 crore from Tk 200 crore, subject to regulatory approval.

For BYD, local manufacturing would establish a production foothold in Bangladesh after the Chinese EV maker entered the market through imports in 2024.

Runner will continue importing and marketing BYD vehicles until local production begins, said an official of the company.

The market has already responded positively. Runner Automobiles’ share price rose 1.53 percent to Tk 53 yesterday, close to its 52-week high of Tk 54.