Learn more

By bne Tehran bureau Russian carmaker AvtoVAZ is set to return to the Iranian market after a 25-year hiatus, the company’s president, Maxim Sokolov said to Moscow-based news agency TASS on April 16. Russia’s war has seen hundreds of foreign companies leave the country, but no sector has been harder hit than the automotive. AvtoVaz, maker of the Lada, has seen its production come to a virtual standstill as the company, formerly run by Renault until its exit following the invasion of Ukraine, set up a “spoke and wheel” model that means most of the more sophisticated parts were imported from West…

cuu