Rostec CEO Praises Chinese Automakers, Calls for Protective Measures

Sergei Chemezov, the head of Russia's Rostec corporation, appreciates Chinese automakers for filling the market void left by Western brands. He suggests that the state may need protective measures for imported assembled cars but supports foreign projects with high localization. Western carmakers exited following Russian military actions in Ukraine.

Sergei Chemezov, CEO of Russia's influential Rostec corporation, lauded Chinese automakers for filling the void left by departing Western car brands. He hinted at potential state intervention to impose protective measures on imported assembled cars.

Following Russia's military incursion into Ukraine, Western carmakers exited the Russian market, creating an opportunity for Chinese automakers. Nowadays, Chinese car brands dominate Moscow's streets. 'We should thank the Chinese,' Chemezov remarked in a written response to Reuters.

Chemezov noted the visible rise of Chinese car brands and assures that the state will find a solution. He also advocated for state support for foreign car manufacturing projects with high levels of localization.

(With inputs from agencies.)