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Azerbaijan eyes to establish electric car production

Transport Materials 6 December 2022 09:49 (UTC +04:00)
Azerbaijan eyes to establish electric car production
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, December 6. It is planned to establish an electric car manufacturing enterprise with an investment value of $12.5 million, Chairman of the Board at the Azerbaijan Franchise Association Jamid Movsumov told Trend.

"The negotiations are being held between the Azerbaijan Franchise Association and a Hungarian organization, but the agreement has not yet been concluded. There is a business plan, for now. At the second stage, the invitation of the representatives of the organization to Azerbaijan for a business-to-business (b2b) meeting is expected," he said.

Previously, the association announced that the Turkish "Rayess" company would open its chocolate-manufacturing factory in Azerbaijan. It is planned to invest $1 million in the project at the first stage, and at the second - $10 million. The association has signed contracts with more than 30 Turkish companies to date.

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