Russian automakers including AvtoVAZ, GAZ and KAMAZ are conducting negotiations with Iran over setting up assembly lines in the country, the press officer of the Russian ministry of economic development announced, Donya-e-Eqtesad reported on Sunady.
In par with the nuclear agreement between Iran and the major powers last week, Russian automakers are highly optimistic about expanding ties with the country, despite the fact that they will face challenges from European competitors who continue to hold prominent positions in assembling cars in Iran, the daily quoted the Russian ministry of economic development.
Prior to this announcement, the large Russian automakers announced their intention to compensate losses from its declining domestic sales by increasing exports, focusing on traditional markets in CIS and emerging markets in Asia, Africa, and Latin America.
The infrastructure to setup Russian vehicles’ assembly lines was discussed during the visit of the Russian minister of economic development to Tehran in November 2014.
