Starting this summer, automakers can only enjoy preferential policies setting up assembly plants in Russia after they pass the country's revised auto certification standards, the Shanghai Securities News learned yesterday.
The Russian projects of Chery and Geely have lost their chance because their certificates have expired. Only the Tatarstan project of another homegrown automaker, Great Wall, is likely to get the go-ahead.
As the only Chinese company to apply for direct investment in an auto project in Russia, Great Wall is making efforts in order to get approval.
Passing the auto certificate standards is a precondition for an automaker to set up an assembly plant in Russia. A change in the standards will directly affect Chinese automakers' expansion in the Russian market.
The changes have yet to be announced. However, from January 1, 2008, Russia introduced Euro 3 exhaust emission standards, prohibiting production or imports of vehicles that fail to meet the requirements. Previously Chinese autos in Russia only met the Euro 2 standards.
For more details, please read the full story in Chinese (http://www.stockinfo.com.cn/paper%5Fnew/html/2008-02/27/content_60760480.htm)
(China.org.cn February 27, 2008)
