The Moscow government and PJSC “KamAZ” have signed an agreement on the development of the Moscow car plant “Moskvich”. According to a document published on the website of the Moscow Mayor’s Office, they plan to invest a total of 5 billion rubles in the venture:
“The parties have agreed that within 60 calendar days from the date of the conclusion of the agreement ‹…› they will provide financing in the amount of 5,000,000 rubles in shares equal to the share of the participation of each shareholder of the company in the company’s share capital.”
When and what amounts will be allocated, the partners will determine before 1 September. The plant’s production plan was also announced:
“Assembly of cars with SKD technology in Moscow: at least 600 cars by December 31, 2022, including 200 cars with an electric motor. In 2023 at least 50,000 units, of which 10,000 units with an electric motor. At least 100 thousand units in 2024, of which 20 thousand units with an electric motor.”