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Russia to reach production of 2.5 mln cars per year by 2035 — ministry

According to Deputy Industry and Trade Minister Albert Karimov, Russia expects to increase the market share of domestically produced vehicles to 80%

ST. PETERSBURG, June 5. /TASS/. Russia is expected to reach the production of 2.5 mln cars per year with a domestic share of the market of 80% by 2035, Deputy Industry and Trade Minister Albert Karimov said at the St. Petersburg International Economic Forum (SPIEF).

"From an industrial perspective, we’re certainly focusing on production volumes and expect to reach 2.5 mln vehicles per year by 2035, in accordance with this strategy. We’ve actually had a lot of discussions, evaluating various options with colleagues, we’re currently setting this goal in our target scenario. Concurrently, we expect to increase the market share of domestically produced vehicles to 80%," he said.

The St. Petersburg International Economic Forum is taking place on June 3-6. This year’s theme is "Pragmatic Dialogue: the Path to a Stable Future." The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.

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