Tezos

Russia revives Soviet-era car brand at ex-Renault plant

Creator

tz1WGoDArdPdHSXqkdPgr7gven7geDJaZKxu

Description

"Manufacturing has resumed at the former Renault factory in Russia, which shut after the invasion of Ukraine and was later taken over by the government. Truck-maker Kamaz said the first cars would go on sale next month. It is reviving the Soviet-era Moskvich brand although the car’s design has been updated. Renault’s departure from Russia was part of a broader exodus of Western companies. McDonald's and Starbucks were among the other big names to quit the country in the wake of the invasion. Western sanctions, put in place to isolate Russia and punish it for its military action, have limited access to foreign-made parts. Kamaz, which signed a deal to be the plant's technological partner in July, and the government are working with Chinese carmaker JAC, according to Reuters, which cited anonymous sources. In the press release, Kamaz said it expected to build up a base of Russian suppliers over time, but output is expected to remain limited." 11/24/22 https://www.bbc.com/news/business-63735943

Traits

Tag

bbc

Tag

russia

Tag

moskvich

Tag

kamaz

Tag

brand

Tag

car

Tag

jac

Tag

china

Tag

suppliers

Tag

soviet-era

Tag

Token

Contract: KT1RL4...atrz
Token ID: 80

View on marketplace