PRESS: Iveco may produce LCV, medium-duty trucks in Russia
MOSCOW, Sep 9 (PRIME) -- Italian car producer Iveco wants to create production of light commercial vehicles (LCVs) and medium-duty trucks in Russia, and raise the amount of heavy trucks produced here, Iveco RussiaТs Business Director Roberto Camatta said in an interview to Vedomosti business daily published on Monday.
In 2019, Iveco to sell 2,300 cars and trucks in Russia, but expansion of production should at least double the sales in the next three to five years. The Italian company is now searching for a local partner capable of producing the whole model range of Iveco trucks, Camatta told the business daily.
Iveco already has a joint venture in Russia, Iveco-AMT, but the partner should produce other types of trucks and will operate in other segments,Vedomosti reported quoting Camatta.
The principle of production and the level of localization are under discussion, he said, without specifying the possible form of the cooperation, investment, or a company with which Iveco was in negotiations.
A manager of one of European car producers told Vedomosti that creation of a new truck production in Russia may cost a company up to 100 million euros depending on the level of localization, and an employee of a Russian car producer said that Iveco was talks with KaliningradТs Avtotor on the matter.
A representative of RussiaТs largest truck producer Kamaz said that the company was not in negotiations with Iveco, while GAZ Group and Sollers did not provide a comment.