ST. PETERSBURG, May 15. /TASS/. Almaz-Antey Corporation is investing 35-37 bln rubles ($441.24 - 466.45 mln) to prepare the former Toyota facility in St. Petersburg for the manufacturing of civilian trucks and electric vehicles, General Director of the Obukhov Plant (part of Almaz-Antey) Mikhail Podvyaznikov told reporters.

"Around 35-37 billion rubles. A bank will supply this money through a standard commercial loan. I believe the loan repayment will begin in seven years," he stated.

The production of E-Neva electric cars is scheduled to begin in 2026.

In late March 2023, the Toyota plant in St. Petersburg was transferred to the state. The agreement included the complete transfer of the ownership title to plant building, equipment, and land.