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15 October 2021, 17:14

Geely car lending support program to be extended in Belarus

BORISOV, 15 October (BelTA) – The Geely car lending support program will be extended into next year, Belarusian Prime Minister Roman Golovchenko told the media during a working trip to Borisov District, BelTA has learned.

Belarus has a special program to finance purchases of domestically-produced Geely cars. Special terms are offered for large families. "Next year, this program will definitely be continued. Now the interest on the loan is actually below the inflation rate. Everything else is compensated by the state. This is a normal practice in many countries. For example, Russia partially subsidizes the down payment to promote sales of domestically produced cars," Roman Golovchenko said.

The prime minister noted that the interest rates on loans are very comfortable. In particular, thanks to this, Geely is the second best selling car brand in Belarus.

According to Roman Golovchenko, BelGee is one of the country's most successful industrial projects. “Today it is a high-tech manufacture, which uses modern equipment, industrial robots. The production output is constantly increasing. Last year the factory produced 20,000 cars. This year the forecast is at least 30,000 cars. Next year the plant is expected to make 40,000 cars. This means the plant needs to switch to a two-shift mode and is in need of more qualified personnel,” he said.

The company has a good localization level at 52% and posts good sales. “Previously we targeted mostly the domestic market. Today the bulk of vehicles goes to the Russian Federation,” the prime minister said.

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