PSB and VEB.The Russian Federation will support the production of the Atom electric car

PSB, WEB.Within the framework of the XXVIII St. Petersburg International Economic Forum, the Russian Federation and JSC KAMA signed a syndicated loan agreement in the amount of 24 billion rubles to launch the serial production of the Atom electric vehicle. The agreement was signed by Chairman of the PSB Peter Fradkov, Chairman of VEB.Igor Shuvalov of the Russian Federation and Igor Povarazdnyuk, General Director of KAMA JSC.

The Atom will have a range of up to 500 km and accelerate to 100 km/h in 8 seconds. The car will be equipped with its own electronic architecture — the Atom OS operating system, a digital marketplace and the Atom ID. The Atom will be controlled using a touchscreen steering wheel, a voice assistant and an augmented reality projection on the windshield (AR HUD).

"PSB has been supporting the Russian automotive industry for many years and is involved in its development. Our joint project is aimed at strengthening the localization of production and makes a significant contribution to the development of domestic suppliers of components and software. It can be safely called innovative and large-scale, as it corresponds to the Strategy for the development of the automotive industry of the Russian Federation until 2035. We will continue to develop cooperation with VEB.By the Russian Federation and Russian manufacturers in order to support priority sectors of the economy," said Petr Fradkov.

"This is an ambitious project designed to confirm the capabilities of the Russian industry in the field of high technologies. The government recognized the project as a priority and included it in the Project Finance Factory program. This tool allows you to provide the project with a government subsidy to compensate for the increase in the key rate over the entire loan term. We are expanding the pool of financial partners in project financing — PSB has joined the syndicated lending organization within Fabrika," said Igor Shuvalov.

"Together with PSB and VEB, we are confidently entering into industrialization and the launch of mass production of the first mass—produced domestic electric vehicle," concluded Igor Povarazdnyuk.