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AvtoVAZ signs deal with Magna · 2006-12-22 17:33
AvtoVAZ, Russia’s largest carmaker, has signed an agreement with Magna, Canadian car parts manufacturer, on joint development and production of C-class cars, RIA Novosti informed.
The companies plan to build a plant in Togliatti and produce some 450,000 cars per year. The project is worth EUR 1.5 billion.
AvtoVAZ CEO Sergei Chemezov said: “This will allow AvtoVAZ to create a whole series of new models, and to strengthen positions on the domestic and international markets.”
The two companies expect to develop a core automobile 2009, and a supply system for auto parts for the assembly plant, with production capacity of 220,000 Lada models per year, is to be set up by this time, Interfax reported.
Vladimir Putin to visit Ukraine
The Russian troops quit Tbilisi
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Russia’s ex-finance minister Alexei Kudrin criticized on Thursday Prime Minister Vladimir Putin’s remarks regarding the white ribbons worn by protesters at recent nationwide rallies against alleged electoral fraud.
American director Woody Allen began shooting his latest movie in Paris on Monday.
Russian President Dmitry Medvedev on Thursday said a European Parliament resolution calling for new State Duma elections “means nothing.”
After Wimbledon Russian tennis player Maria Sharapova came to Belarus.