At the VTB Forum “Russia Calling!” held on December 4-5, 2024, Russian President Vladimir Putin highly praised the Chinese automobile industry, stating that it has surpassed the European automobile industry. President Putin also pointed out that the expansion of Chinese car companies in the Russian market is not solely due to the departure of European companies.
“Our cooperation with Chinese automakers isn’t driven by German manufacturers leaving us; it’s because China has started producing better and cheaper products than Europe. We believe the measures taken by Europe and other markets to strike against Chinese automakers are absolutely wrong and harmful to the global automotive industry. Our Chinese friends have successfully attracted the most experienced and promising experts, including those who once came from world-leading automotive nations, and have successfully created truly competitive products.”
President Putin said that Russia’s cooperation with China’s automobile industry began in 2015, when the first factories were established in Tula and Kaluga. He also congratulated Chinese car manufacturers on their “outstanding achievements.”
In May 2024, President Putin explained during a meeting with students from Harbin Institute of Technology that the U.S. sanctions on Chinese electric vehicles were due to the fact that these cars “have become better.”
Chinese cars currently account for more than 50% of the Russian automobile market. The share of Chinese cars in Russia’s taxi fleets has also reached 70-80%. Meanwhile, some industry insiders in Russia claim that the lifespan of Chinese cars is noticeably shorter compared to European and South Korean brands.
