Date: 30 January 2019, 16:37, READ:
Akhundov made the remarks in Baku at the conference dedicated to the results of the implementation of the State Program on the Socio-Economic Development of the Regions of the Republic of Azerbaijan in 2014-2018, Trend reports.
"The matter rests in the production of certain car parts in the country,” he said.
Speaking about the results of 2018, Akhundov stressed that over 1,000 cars were produced during that period and 95 percent of cars were sold.
"Thus 40 percent of cars were bought by the state structures, while 60 percent – by people,” he said, adding that this testifies to the competitiveness of cars,” he added.
"The production of the first Peugeot cars will begin by the end of the year,” Akhundov added. "All necessary equipment has been already installed at the plant.”
The Khazar car plant is located in southeast Azerbaijan in the Neftchala Industrial Site. All cars produced there comply with Euro 5 standards. Cars have been sold since summer 2018.
On Aug. 6, 2016, big Iranian automaker Iran Khodro and Azerbaijani company AzEuroCar, a subsidiary of AzerMash, signed an agreement to establish a joint automobile plant in Neftchala. The Azerbaijani side invested 75 percent in the plant, while the Iranian side invested 25 percent.