Russia to spend 20.7 bln rbl to support demand for cars

STRELNA, St. Petersburg, Jun 17 (PRIME) -- The Russian government will spend 20.7 billion rubles on support of demand for cars, Industry and Trade Minister Denis Manturov said late on Thursday after a meeting with President Vladimir Putin.

“The president has set the goal of updating the car industry’s development strategy in the next two months to outline the support measures for the next three years … Speaking of this year, we’ve decided to earmark 20.7 billion rubles to support of demand, including 10.2 billion rubles to the relaunch of car lending, 4.9 billion rubles to cheap leasing, 2.6 billion rubles to discounts for electric cars, and 3.3 billion rubles to gas-engine cars,” he said.

Manturov also said that Putin supported the initiative of raising electric cars production, and the the goal of expanding competences in car engineering so that our car industry becomes as independent as possible. Russia is even capable of creating its own production of safety airbags, in which it would have to unite the chemical companies and car producers to create an integrated solution, he said.

Putin said that the car industry should be supported as fast as possible. The authorities have to develop and approve the car industry strategy until September 1 with creation of Russia’s own critically-important technologies and production becoming a priority.

The government has to develop and introduce support measures until the end of 2022 so that the situation in the industry does not become an emergency. The Industry and Trade Ministry has to look into the situation with the car prices, the government has to ensure that cars are affordable, he said.

The scientific and technological development of the industry is a key component, Russia has to pay attention to that, he said.

Putin also said that support for building new gas filling stations for gas engine cars is very important.

(56.8691 rubles – U.S. $1)

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