Volga will invest 60 billion rubles in localization of Chinese cars

Nizhny Novgorod company Passenger Car Manufacturing (PLA) will invest about 60 billion rubles in the localization of the model range in Russia as part of a 10-year special investment contract (SPIC) with the Ministry of Industry and Trade of the Russian Federation. In particular, it is planned to develop the production of gasoline engines and automatic transmissions. This was reported by Vedomosti on June 3, citing a source.

As a representative of the PLA told the publication, within the framework of the Volga project, it is planned to create an original model range, develop its own engineering solutions and create a local component base. According to him, the SPIC has a high level of commitment to localize critical components, on the basis of which a new model range, including the engine and transmission, will be created.

The interlocutor noted that within the framework of the project, the volume of investments significantly exceeds the amount included in the SPIC. The Volga model range includes licensed copies of models of the Chinese brand Geely — sedan C50 (Preface), crossover K40 (Atlas) and K50 (Monjaro). They have been produced since spring at the company's site in Nizhny Novgorod.

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Earlier, on May 26, the Volga car brand announced prices for three new models. The C50 sedan will cost from 2.9 million rubles, the K40 crossover from 2.75 million rubles, and the K50 crossover from 4.2 million rubles. They should be available at dealers in June this year.