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MOSCOW, August 8 (Itar-Tass) - MosavtoZiL, ZIL’s full subsidiary, may sign an agreement with Renault and Fiat in late August or early September to launch a contracted production of light commercial vehicles (LCV) under these car brands, MosavtoZiL Director General Igor Kulgan told Itar-Tass on Thursday.
He confirmed the fact of negotiations, but did not comment on the terms of the possible agreement.
“We are conducting negotiations, but it is premature to say about an agreement so far. We will announce everything in September, or probably in late August,” Kulgan noted.
The LCV production may be launched in the first quarter of 2014, the annual design capacity of 50,000 light commercial vehicles of both car brands (by 25,000 LCVs of each car brand), Itar-Tass reported. The first car models are expected to be Fiat Ducato and Renault Master. The launch of LCV full-cycle production with annual output of 50,000 cars would cost $200 million. ZIL will act as the main investor.
The LCV production is already localized by Ford in Tatarstan and Daimler in Nizhny Novgorod on the GAZ premises.