Hungarian Ikarus buses to be produced in Azerbaijan

A Memorandum of Understanding was signed between Sumgayit Technologies Park (STP) LLC - a resident member of Sumgayit Chemical Industrial Park of the Economic Zones Development Agency under the Ministry of Economy and the Hungarian company Ikarus.

Report informs, citing the Agency, that the document was inked by STP General Director Ruslan Agabayli and Ikarus CEO Zoltan Tanko.

The memorandum includes starting the production of Ikarus buses in Azerbaijan, initially producing 100 buses per year, gradually increasing this number to 500, localizing production in the Karabakh region in the near future, creating a service center, and other issues.