The head of the Russian Ministry of Industry and Trade Denis Manturov has signed a special investment contract which implies the localization of production of Chinese company Haval cars in Russia.

According to the ministry, Haval has become the first Chinese carmaker to sign such a contract. The company undertakes to localize production of the main components in the Russian Federation. The matter concerns the engine, gearbox, electronic units and car control systems.

Investments in implementation of the project will exceed 42 billion rubles.

As Manturov noted, such high level of localization will increase the competitiveness of the automaker on the Russian market. He also stressed that the realization of the contract will guarantee the development of the enterprise in Russia in the long term.

Russian plant Haval began its activities last summer near Tula. It is the first foreign full cycle enterprise for the brand. Now the factory in our country produces 4 models of cars.

Made in Russia // Made in Russia

Author: Ksenia Gustova