ArmInfo.Armenia and China are considering the possibility of establishing a joint venture for the production of electric vehicles. Minister of Economy of Armenia Vahan Kerobyan announced on November 3, answering questions from parliamentarians at a parliamentary committee hearing on the 2024 state budget.
In this regard, he spoke about a series of meetings with Chinese companies during his recent visit to China, including the large conglomerate BYD Auto Industry.
The minister noted that the department intends to implement programs that stimulate not only the use of electric vehicles in the country, but also thir production. "Because we want to make the transition from a consumption-based economic growth model to an investment-based growth model," he said.
At the same time, Vahan Kerobyan noted that the planned production is intended not only for the Armenian market. Although, given that there are about 600 thousand cars in Armenia, the average age of which is about 20 years, he noted that the program, in turn, will open up opportunities for updating the vehicle fleet in the country, which is already needed.
