Irito, a distributor of Chinese cars, plans to set up a plant in Russia to assemble BYD Flyer cars, it said on Wednesday.
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In late July, Irito applied to the Economic Development and Trade Ministry for an industrial assembly status for a yet-to-be-built production facility in the Moscow Region, Irito told the Prime-Tass news agency.
Industrial assembly status, introduced by the Russian government in early 2005, eliminates or substantially reduces import duties on foreign automotive components, if producers have an annual output of at least 25,000 vehicles.
Irito said its plant would have a production capacity of 25,000 vehicles per year and it plans to secure over 1bn rubles’ worth of investments for the production facility.
Irito also said that the price of a BYD Flyer would be around 125,000 rubles, Prime-Tass added.
