“Richard Branson-backed” hyperloop startup seeks funding on Bucharest's SeedBlink
1 day ago
Chinese online retailer AliExpress is to launch sales of cars in Russia teaming up with Chinese carmaker Chery, Kommersant daily reported on March 5 citing the representatives of the company.
Cross-over models Chery Tiggo 3, 4, 5 and 7, as well as accessories and spare parts will be for sale on AliExpress, with the line of available car brands and models to be expanded in the future. Notably, Chery Avtomobili Rus plans to eventually start assembly of the vehicles in Russia.
Currently Chinese brands account for only 2% of total car sales in Russia, with Chery Tiggo 3 being the third most popular Chinese model behind Lifan with about 3,000 units sold.
The sale of new cars grew for the second year in a row in 2018 after nearly five years of contraction, the Association of European Businesses (AEB) reported on January 14.
In 2017, the new car market grew by 12%, and in 2018 by 13% to 1.8mn vehicles. The sales of passenger cars and light commercial vehicles in Russia in 2019 will grow by 3.6% to 1.87mn units, according to AEB.
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