an hour agoRenowned Chinese automotive Company Leaves Russia
Periskopi(4 years ago)
(4 years ago)The renowned Chinese car brand, Leifan, has withdrawn from Russia, as relations between Beijing and Moscow seem to have faded. Leifan is the second largest Chinese production company in Russia and was Russia's largest car dealer during 2014-2018, writes Express, followed Periscope. According to a Russian publication of [...]
According to a Russian publication of Autonews.ru, the lack of new car registrations in 2022, along with the fact that at the moment “there are no offers in their sale”, are the reason that Lifan is not intended to operate in Russia anymore.
Leifan was one of Russia's best - known car brands, and by the measurements of Avtos, Lefan has 154,000 cars in Russia.
The announcement comes at the time of Western sanctions on Russia due to Ukraine's invasion, sanctions that have hit any sector of the economy.
Experts in advance had predicted that the news that brands of European, Japanese and American vehicles would withdraw from Russia would increase the presence of the Chinese market in the country, which would enable China to capitalise on the absence of the race.
News of the withdrawal of a giant Chinese automotive manufacturer from Russia comes at the time of a report showing that unlike popular confidence, China has not increased demand for Russian energy since the beginning of the war in Ukraine.
China has consistently taken a stance on strategic “enturality”, where sanctions are not imposed on Russia, while on the other hand refuse to publicly support Russian President Vladimir Putin.
However, the two countries are close allies, with China supporting Russia's opposition to NATO's eastern enlargement, while Russia supports Beijing policy “A China”, which names Taiwan as a part of China.
Despite close relations, experts stress that Chinese President Xi Yingping may be frustrated with Russia's failure in Ukraine, as it puts Beijing's position in the global arena in difficulty.
