Min: Opel yet to formalize localization of production in Russia

GENEVA, Mar 7 (PRIME) -- Opel, controlled by France’s Peugeot-Citroen (PSA Group), is yet to submit materials confirming its intent to localize production in Russia and to bid for a special investment contract with the Industry and Trade Ministryr, Minister Denis Manturov told reporters on Thursday.

In February, PSA Group decided to restart sales of Opel cars in Russia after U.S. giant General Motors, the previous owner of the brand, terminated operations in the country in 2015.

“So far, this remains at a level of rumors, as no one came to us showing serious intent, let alone filing any bids to sign a special investment contract like other car producers did,” Manturov said.

He also said that if any car producer, like Ford, decides to leave the market, another car producer will replace it, or another carmaker that is already present in Russia will expand its operations.

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