GAZ Group suggests 200 bln rbl program for car component makers

MOSCOW, May 27 (PRIME) -- Russian carmaker GAZ Group has suggested that the government and the car industry launch a 200–240 billion ruble joint program to support producers of car components, GAZ Group President Vadim Sorokin said on Wednesday during a session of the Innoprom Online.

“Not a single car can be made today without imported components, while some critically important systems, like the steering system or brakes, are completely absent in Russia, we have lost the competences. That is why we suggest this program, but the carmakers will be unable to implement it on their own. It should be implemented on an industry level, we see the total financing amount at 200–240 billion rubles for the next three to five years, and we suggest an even split of spending on research and development and on preparation of production together with the state,” he said.

“This is not about investment projects of carmakers. It is about investment projects of our suppliers. It is about … recovery of the component sector in Russia,” he said.

Deputy Industry and Trade Minister Vasily Osmakov said that the ministry was ready to finance this program in the form of grants together with the fund for development of industry.

(71.1408 rubles – U.S. $1)

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