Russia to restart automobile industry sites left by foreign business — PM

Business & Economy July 04, 2023, 18:58

Mikhail Mishustin mentioned "the list of priority areas for technology development of the automotive industry" including the strong program of subsidized leasing and car loans

MOSCOW, July 4. /TASS/. Russia has to relaunch automobile plant sites left by foreign businesses and start producing vehicles, Prime Minister Mikhail Mishustin said at the meeting with members of the Federation Council, the upper house of the Russian legislative assembly.

The issue of domestic automotive industry development is a challenging and long-standing one, Mishustin said. "We have to solve two tasks at present: to relaunch production sites left by foreign partners and accordingly establish production of a greater number of cars in Russia," the prime minister said.

Five regions were identified where such tasks would be accomplished, Mishustin said. These comprise Kaliningrad, Moscow, St. Petersburg, Elabuga and Lipetsk. "The government has drawn up the list of priority areas for technology development of the automotive industry. We provided for allocation of subsidized loans for auto components making. We will also continue the strong program of subsidized leasing and car loans and will support the natural gas vehicle industry also. Certainly, regions will be able also at the expense of government procurements to upgrade the fleet of school buses and the fleet of ambulance cars," the prime minister noted.

The government will continue solving ongoing problems in the sector and shaping the long-term vector of technology changes, making it possible to provide the market with required supplies, he added.

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