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Production of Russian limousines may be launched in 2017-2018

October 18, 2013, 1:23 UTC+3

Project envisages the production of off-road vehicles, business class cars

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MOSCOW, October 18 (Itar-Tass) - The production of first cars in the project “Kortezh” (motorcade) (a car of Russian production for the Russian top officials and the series of cars for massive sale) may be launched at the end of 2017 or the beginning of 2018 under the project, Russian Deputy Prime Minister Arkady Dvorkovich said in an interview with the TV channel Rossiya-24 on Thursday.

In his words, the project envisages the production of off-road vehicles, business class cars. Meanwhile, the assembly of off-road vehicles will be launched earlier than the deadline and the assembly of business sedans will begin no earlier than in 2020.

The joint venture of the Central Scientific-Research Automobile and Automotive Engines Institute and Nikolai Fomenko’s Marussia Motors Company will launch production with the use of the technologies of Volkswagen, Mercedes and Toyota. “The project is being implemented in close cooperation with such international partners as Magna, Continental, Porsche and others,” the deputy prime minister added. The foreign partners will supply 30 percent of components of future Russian cars.

The Russian motor works ZIL is the most probable site for production, Dvorkovich said.

The federal budget envisages about 11-12 billion roubles (about $343-344 million) for three years for developments and preparation of the production base, other investment at approximately the same amount will be private, Dvorkovich said.

“The developments should have been completed by the end of 2014 or the beginning of 2015 at most,” the deputy prime minister said. Off-road vehicles will preliminarily cost from two million roubles (about $62 thousand), business class cars from one or 1.5 million roubles (about $31 thousand or $43 thousand). “According to current estimates, with a quite moderate demand the payback period of the project may end by 2023-2025,” Dvorkovich believes.

The production capacities will make 30,000 cars annually at most. The final decision over the choice of a production site will be taken after the end of designing in 2015.

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