MOSCOW, Oct. 29 (Xinhua) -- China's automobile brand Hongqi is considering manufacturing cars in Russia, which is the main goal for the brand's development plan in the Russian market in 2026, Izvestia newspaper reported on October 28.
Ivan Saveliev, the executive director of Hongqi Russia, made this announcement at the Car XL conference. He emphasized the significance of local production for the brand's competitiveness in the Russian market.
Saveliev said that it would be extremely challenging to compete in Russia without the localization of production. "We are currently waiting for confirmation of this possibility from the company's headquarters in China. If Hongqi is going to be assembled in Russia, it will be our own production."
In a related development, on October 16, it was reported that Russia had started accepting orders for the newly modified Hongqi H9 executive sedans. The price of the car in the Russian market is set at 9.99 million rubles (about 125,964 U.S. dollars).
The Hongqi cars entered the Russian market since 2022. According to data from AUTOSTAT, a total of 7,145 Hongqi cars were sold in Russia in 2024, 2.8 times the sales figure in 2023.
(Contributed by Bao Nuomin, edited by Li Xueqing with Xinhua Silk Road, lixueqing@xinhua.org)
A single purchase
