Add to Bookmarks | Set as Home Page | Russian news



AvtoVAZ signs deal with Magna · 2006-12-22 17:33

Lada KalinaAvtoVAZ, 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

Loading ...





website tracking