EconomyAvtotor announces its plan to produce 50,000 cars from...

Avtotor announces its plan to produce 50,000 cars from new brands

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Assembly of new cars at the factory. archive photo

Gorbunov: Avtotor plans to produce 50-70 thousand new brand cars in 2023

MOSCOW, November 22 – RIA Novosti. Valery Gorbunov, chairman of the board of directors of the holding, said in an interview with RIA Novosti that Kaliningrad Avtotor plans to produce at least 50 thousand new brands of cars in 2023, and according to the optimistic scenario – 70 thousand or more.

Answering a question about production at Avtotor, the Minister said, “With the development of the new cooperation, we think that we can enter the production of 50 thousand cars next year, according to a bad option.”

“With a good development it could be 70,000, if it’s really good we’ll exceed that figure. Even this volume already gives us some stability, but it’s far from a breakeven point,” he added.

Gorbunov confirmed that car production at Avtotor is now suspended. However, while talking about three new brands, he noted that the holding has already found new assembly partners, but their number may be increased in the future.

Gorbunov did not disclose which partners he was talking about, but confirmed, among other things, that it will cooperate with Asian companies. Production is scheduled to begin at the end of 2022, but the top executive did not specify which models will be used.

Autoholding “Avtotor” was founded in 1994 in Kaliningrad. The enterprise became the first in Russia to start the production of cars of foreign brands. Production has been carried out since May 1997, the capacity of the factory is about 250 thousand cars per year. Until the spring of 2022, Avtotor produced mainly models of the German brand BMW, as well as South Korean Kia and Hyundai, at the moment the assembly of cars of these brands is suspended.

Source: Ria

Emma
Emma
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.

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