The investment required to move the production of Lada Vesta from Izhevsk to the plant in Togliatti is estimated at about 1 billion rubles, but this amount will quickly pay off, said AvtoVAZ president Maxim Sokolov.
“The sources are included in the investment program of AvtoVAZ; despite the difficult period and the consolidation of financial resources, a certain tension, which we certainly feel, we have allocated about 1 billion rubles for these purposes, but this is a quickly paying off project and it will already be profitable by the end of next year,” Sokolov said (quote from RIA Novosti).
The decision to transfer the production of Lada Vesta cars from Izhevsk to the main site in Togliatti was made by the Board of Directors of AvtoVAZ on August 4. It was noted that the plant will produce up to 60 vehicles per hour. At the same time, the Izhevsk plant will start producing the new Lada e-Largus and spare parts for Lada Vesta.
On August 9, AvtoVAZ decided to resume the production and sale of Lada cars, which are equipped with the Era-Glonass emergency warning system, from August 1. The company stopped installing the system on its vehicles in September 2021 due to a shortage of semiconductors. Dmitry Kostromin, vice president for sales and marketing of the company, also said that in the near future it is planned to expand the list of “comfort and safety options”.
Subscribe to Vedomosti on Telegram and stay up to date with the main economic and business news.