(MENAFN- AzerNews) Sollers intends to invest at least 3 billion rubles in the
development of a multibrand industrial center for the production of
body-on-frame cars at the Ulyanovsk Automobile Plant site, the
group said, Azernews reports, citing Interfax.
The cooperation agreement between Sollers and the region for the
implementation of the project was signed at the Innoprom industrial
exhibition in Yekaterinburg on Monday.
Sollers is obligated to set up full-cycle production of Sollers
Argo LCV's, as well as new models of Sollers branded commercial
vehicles between 2023-2025.
The document also highlights the creation of new capacities in
the Ulyanovsk region for the production of high-tech auto
components, the press release says.
As reported, the Russian automotive group announced the creation
of the multi-brand industrial center based at UAZ in May. Sollers
would install new production capacity for body-on-frame commercial
vehicles in the UAZ industrial park.
LCV assembly has already started in a new building at UAZ
through a separate legal entity called Sollers Cargo LLC.
Construction and installation at UAZ of full-cycle production,
including welding, cab painting, and assembly of the Sollers Argo,
is now in its final stage. Assembly of this model, which currently
takes place at the Sollers facility in Yelabuga, Tatarstan, will be
fully transferred to the UAZ site. Production in Yelabuga will
end.
Earlier, it was also reported that planned production capacities
for this model are designed for over 10,000 vehicles per year
within a five-year timeline. The total investment in the project
was estimated at more than 1 billion rubles.
The Sollers Argo is a compact vehicle for urban transport,
created on the basis of technology from China's JAC Automobile
company.
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