Published: December 18, 2023 11:33 am
Author: RT
The agreement will see Lada vehicles assembled in Ethiopia
Ethio-Engineering Group (EEG) and Russian carmaker Avtovaz have signed an agreement to produce Russian Lada vehicles in Ethiopia, local media reported on Sunday.
According to the report, the deal was inked by EEG’s CEO, Suleiman Dedefo, and the head of Avtovaz Export, Ilya Savinov. The agreement’s details, including the expected timeframe for the production launch, have not yet been made public.
In his speech at the ceremony, Savinov said that many Russian companies are interested in investing in Ethiopia. For his part, Dedefo invited Russian entrepreneurs to invest in the country and assured them that the government would provide the necessary support for cross-border projects.
The plans to open a production line to assemble Lada vehicles in Ethiopia were first made public by the country’s ambassador to Russia, Cham Ugala Uriat, in September this year. The diplomat said at the time that the cars would be primarily produced for the African market and noted that at least two other Russian automakers were showing interest in setting up their own assembly lines in Ethiopia.
READ MORE: Production of luxury Russian cars begins in UAE
While Avtovaz already has a range of SUV models suitable for the African market, earlier this year, the carmaker’s CEO, Maxim Sokolov, said it could develop special modifications for its vehicles to suit African buyers, including a right-sided Lada Niva. Sokolov also noted that Avtovaz was in talks to supply its cars to other overseas markets, including the UAE, Oman, and Vietnam.
For more stories on economy & finance visit RT’s business section
