Plans to localize Lada car production in Iran and open a dealership in the region remain relevant, AvtoVAZ CEO Maxim Sokolov told TASS on the sidelines of the VTB Russia Calling! Investment Forum.
"Yes, these plans are still active. They are progressing on schedule, though with the ruble strengthening, the financial appeal of exports—not just for Lada, but for any export products—is naturally decreasing," he stated.
Sokolov also noted that the timeline for opening a dealership in Iran depends on the partner-investor and is tied to the need to secure sufficient vehicle inventory for the future center.
"We are therefore waiting for the right balance between the recent strengthening of the national currency and the effectiveness—that is, the financial viability—of entering the Iranian and other markets," the AvtoVAZ head concluded.
GSV "Russia - Islamic World"
Photo: Vyacheslav Bukharov/Creative Commons 4.0
Based on materials from TASS