Foreign concerns considering e-vehicles production in Russia, says minister

MOSCOW, July 5. /TASS/. The majority of foreign auto concerns operating in Russia are considering the possibility of producing electric vehicles in the country, Industry and Trade Minister Denis Manturov said in an interview with TASS. "I can say that the majority of foreign brands that produce ICE vehicles in Russia now, are considering the possibility of localizing electric vehicles here," he said. The ministry also plans to conclude special investment contracts on components for electric vehicles. "We also plan to conclude special investment contracts with producers of power electronics components, energy storage systems, and other components for electric transport vehicles," Manturov said. Asked about obligatory quota on production of ‘green’ vehicles in Russia, the minister said that the decision should be balanced. "We together with the Economic Development Ministry have submitted to the government the draft decree approving the concept of electric transport development. By 2024 we expect production of at least 28,000 electric vehicles, whereas by 2030 it will reach at least 10% of the total production volume," he said. Read more