Iran’s main automaker is looking for to seize a share of the Russian market after Western producers halted output or exited the market following sanctions.
Iran Khodro CEO Mehdi Khatibi made the announcement on August 14 as he unveiled the corporate’s newest mannequin — the crossover Rira.
“We’re going to pay particular consideration to the Russian market, and we’re additionally considering of partnering with Russian buyers,” he stated.
“The Russian market, with its capacities, can be one in all our essential markets,” Khatibi added.
Iran Khodro will start exporting to Russia this 12 months, he stated.
Khatibi stated he had been in negotiations “with Moscow,” however he didn’t make clear whether or not the talks simply revolved round exports or additionally included doable native manufacturing.
Iran Khodro had briefly exported automobiles to Russia throughout the 2000s, based on Iranian media.
Russian President Vladimir Putin traveled to Iran in July to fulfill his Iranian counterpart, Ebrahim Raisi, and Supreme Chief Ayatollah Ali Khamenei.
Moscow is looking for to reinforce financial ties with Tehran after the West imposed punishing sanctions on Russia following its invasion of Ukraine.
Iran can be underneath wide-ranging Western sanctions.
Russian auto manufacturing has plummeted because the imposition of sanctions, as a result of producers can not import microprocessors and different components wanted for remaining meeting.
A number of Western and Asian corporations have idled their Russian vegetation in the meanwhile whereas some have introduced they’re completely leaving the market.
Exports of Western automobiles to Russia have additionally sunk sharply.
Khatibi didn’t say what number of automobiles he expects to export this 12 months to Russia.
Whereas the exit of Western fashions opens a door for Iran Khodro, Russia’s economic system is predicted to contract sharply within the coming years, hurting demand for big-ticket objects like automobiles.
