AvtoVAZ to localize production of 26 car models before 2025

SAMARA, Mar 27 (PRIME) -- AvtoVAZ and Renault-Nissan-Mitsubishi alliance undertook the obligation to localize production of 26 car models in Russia before 2025 under special investment contracts signed with the Industry and Trade Ministry, Samara Region Governor Dmitry Azarov said on Wednesday.

“In December 2018, the region, AvtoVAZ and the Russian government signed a special investment contract. Renault-Nissan corporation and its partners undertook the obligation to localize production of 26 car models, and to create a Russian production of automatic transmissions and modern engines,” he said during his address to the people of the region.

Previously, Industry and Trade Minister Denis Manturov said that the 10-year special investment contract with AvtoVAZ encompasses investment totaling 70 billion rubles and creation of over 2,300 new jobs. Azarov expected the combined amount of investment under the contract to reach up to 200 billion rubles with the combined revenue standing at about 5 trillion rubles.

(64.1683 rubles – U.S. $1)

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