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Volume of investment in Volga car project will exceed $662 mln

Volga cars will be produced at the site of the Nizhny Novgorod automobile cluster, while the serial production will start in 2024 and from 2025 the production will be carried out in a full cycle mode

MOSCOW, May 21. /TASS/. The total investment in the Volga car production project will exceed 60 billion rubles ($662 mln), the producer said in a statement.

"The volume of investments in the project, including investments in R&D, the establishment of car production and the creation of a Russian component base, will exceed 60 billion rubles," the statement says.

Volga cars will be produced at the site of the Nizhny Novgorod automobile cluster. Their serial production will start in 2024 and from 2025 the production will be carried out in a full cycle mode. The project is being implemented by the Passenger Car Production company, which leased facilities where contract production of passenger cars was previously carried out.

The line of cars will be represented by three models: Volga C40 (D-segment sedan), Volga K30 (C-segment crossover), Volga K40 (D-segment crossover). All three models use an efficient and economical gasoline engine with a capacity of 188 horsepower (300 Nm). The design of the radiator grille contains continuity with the historical appearance of Volga cars.

"We are planning to create domestic production of most critical components. Currently, Nizhny Novgorod engineers are working on solutions that will allow for deep localization of the platform and main components and assemblies. The Nizhny Novgorod automotive cluster has everything to implement this - experience, traditions, production competencies and the best engineering school in the country," said Alexander Podoplelov, head of the Passenger Car Production company.

Volga cars were first presented to Russian Prime Minister Mikhail Mishustin at the CIPR exhibition in Nizhny Novgorod.

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