Russia to launch Moskvich car production at former Renault plant in December [View all]

[Eugene]

Source: Reuters

Russia to launch Moskvich car production at former Renault plant in December

Thu, October 20, 2022 at 10:24 AM·1 min read

MOSCOW (Reuters) - Russia plans to start production of the Soviet-era Moskvich cars in December, Moscow Mayor Sergei Sobyanin said on Thursday, more than six months after French carmaker Renault's exit set the wheels in motion for the classic car's return.

Renault sold its majority stake in carmaker Avtovaz to the Russian state for reportedly just one rouble ($0.0165), but with a six-year option to buy it back. The same state institution snapped up Nissan's assets this month for one euro.

Sobyanin in May said Moskvich production would preserve thousands of jobs, but the plant, renamed Moscow Automobile Factory Moskvich, has stood idle since then.

"The automobile industry has seriously flopped this year, but nevertheless, I hope that we can launch the Moskvich plant in December with the help of the Industry and Trade Ministry," Interfax news agency quoted Sobyanin as saying.

-snip-

Read more: https://news.yahoo.com/russia-launch-moskvich-car-production-142444044.html