-2.1 C
New York City
Tuesday, December 6, 2022
Home Around-the-World Russia to Launch Moskvich Car Production at Former Renault Plant

Russia to Launch Moskvich Car Production at Former Renault Plant

Russia plans to start production of the Soviet-era Moskvich cars in December, Moscow Mayor Sergei Sobyanin said on Thursday, more than six months after French carmaker Renault’s exit set the wheels in motion for the classic car’s return.

Renault sold its majority stake in carmaker Avtovaz  to the Russian state for reportedly just one rouble ($0.0165), but with a six-year option to buy it back. The same state institution snapped up Nissan’s (7201.T) assets this month for one euro.

Sobyanin in May said Moskvich production would preserve thousands of jobs, but the plant, renamed Moscow Automobile Factory Moskvich, has stood idle since then.

“The automobile industry has seriously flopped this year, but nevertheless, I hope that we can launch the Moskvich plant in December with the help of the Industry and Trade Ministry,” Interfax news agency quoted Sobyanin as saying.

The Moskvich, which translates as a native of Moscow, ceased production around two decades ago.

The Moskvich plant on Thursday said it hoped to produce about 600 cars this year, including 200 electric vehicles, and 50,000 cars in 2023.

The plant cited Sobyanin as saying that Moscow has all necessary expertise to be a centre of the electric vehicle industry.

The Moscow mayor’s office and Russia’s largest truckmaker Kamaz  agreed in August to invest 5 billion roubles in the Moskvich plant.(Reuters)

Kamaz is searching for a foreign partner to produce cars in Moscow. Sources have said Kamaz could partner with a Chinese design, engineering and production platform.

©Copyright MOTORING WORLD INTERNATIONAL. All rights reserved. Materials, photographs, illustrations and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior written permission from Motoring World International

Contactinfo@motoringworldng.com

Most Popular

Volkswagen CEO to Present Software ‘Reality Check’ To Board

Volkswagen's (VOWG_p.DE) CEO will outline a new software and vehicle platform strategy to the carmaker's supervisory board on Dec. 15 as he tries to...

Toyota Set for 2023 Dakar Rally With Three-Car Team

TOYOTA GAZOO Racing is set to take on the 2023 Dakar Rally with a three-car team early in January. The defending champions, Nasser Al-Attiyah and...

New Fully Electric Volvo C40 Recharge Heads for South Africa

The new fully electric C40 Recharge is scheduled to join Southern Africa’s range of electrified vehicles in the first half of 2023. Offering many of...

Hyundai IONIQ 5 Wins Car of the Year Award

The 2022 Hyundai IONIQ 5 has earned Esquire’s Car of the Year this month, adding another coveted award to its growing trophy case. Every year, Esquire editors drive and...
%d bloggers like this: