Automakers plan to produce autos to Moscow after the exodus of overseas manufacturers
Moscow and Tehran have signed a memorandum of understanding for Iranian automobile exports to Russia valued at $ 300 million, the pinnacle of the nation’s affiliation of auto components producers, Mohammadreza Najafi-Manesh, mentioned on Monday.
Iran Khodro, the most important carmaker within the Center East, is eyeing the Russian market following the exodus of European, American, and Japanese manufacturers.
Many overseas automobile producers discovered it tough to proceed operations within the nation after deliveries of automobiles and spare components to Russia have been stopped resulting from Western sanctions.
The Iranian carmaker assembles revamped fashions of Chinese language Haima and Dongfeng manufacturers. Final 12 months, the nation launched the Tara sedan based mostly on the Peugeot 301, whereas different new fashions utilizing the Peugeot and Citroen as prototypes are coming.
READ MORE: Chinese language automobile manufacturers conducting main growth in Russia – report
In keeping with information from Russia’s Autostat company, there have been 10,400 Iran Khodro automobiles in Russia as of July 2022, that are represented by the Samand mannequin (a Class C sedan), a automobile based mostly on the Peugeot 405.
Iran, which has been beneath Western sanctions for many years, has managed to develop its personal automotive trade that caters to home demand. The nation has additionally been pressured to chop reliance on overseas automobile imports after components and provides have been stopped when the US reimposed sanctions on the Islamic Republic in 2018.
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