Page 86 - bne IntelliNews monthly country report Russia February 2024

Musatov attributed this anticipated surge in EV adoption to several key factors, including increased EV production, the expansion of charging infrastructure, the initiation of new projects, cost reductions in manufacturing and ownership, and the importation of electric cars, particularly from China.
He explained, "Higher electric vehicle output, development of charging infrastructure, the launch of new projects, the decline of the prime cost and the cost of ownership, import of electric cars, including from China, must favor higher sales.” Musatov also highlighted the near-term outlook, with expectations of electric car sales reaching 12,000 to 13,000 units in 2023, a significant fourfold increase compared to 2022.
Furthermore, VTB Leasing expressed its readiness to provide financial instruments for working with Iranian car brands if there is demand, indicating the flexibility and adaptability of the leasing sector in response to changing market dynamics.
86 RUSSIA Country Report February 2024 www.intellinews.com