Russia’s first electric car project gets Putin’s support
By Andrew C., 30 Aug, 2010. 0 Comments
Prime Minister Vladimir Putin gave his support to a plan by Russia's richest man, Mikhail Prokhorov, to begin mass production of electric cars. Russia was hit hard by the global crisis and is now seeking to modernize its commodity-based economy.
It is moving towards working for a growth in technology sectors where it believes it may have some competitive advantage. Prokhorov is a gold-to-basketball entrepreneur who was able to sell some of his most lucrative assets just before the crisis. As a result, he is now looking to invest and is interested in the technology sector. Continued after the jump!
Dmitry Peskov, Putin's spokesman, told reporters that Putin wants to have this project discussed in detail with all the ministries involved as soon as possible.
From the early designs, the car appears to be a Golf-class sedan with a body made from plastic. Prokhorov is said to be prepared to provide project financing for two years.
The target price for the pure electric vehicle is around 8,800 euros. Prokhorov's Onexim Group currently has no car production facilities.
It is unknown if Putin will provide funding as well or if Prokhorov planned acquisitions or partnerships to complete the project.
[via autonews - sub. required]
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