RUSSIA: Avtotor, Magna to ink deal on car 'cluster'
Russian car maker Avtotor Holding will sign on Thursday a general agreement of cooperation with Canadian car giant Magna International Europe in order to create an automobile 'cluster' in the Kaliningrad Region, Avtotor Holding said in a statement.
The production capacity of the cluster will amount to no less than 250,000 cars annually with an annual output worth over RUB670bn, Prime News reported.
The first line of the cluster will be operating by 2016. On the whole, the complex will comprise 21 production units, including six car plants and 15 component facilities. Total investments in the project are estimated at about RUB90bn.
The cluster will create up to 20,000 jobs in the region, and it will unite new car plants and joint ventures handling the manufacture of components.
Magna will be in charge of the engineering aspects of the project.
We live in strange times. As Fisker, a rival with supposedly superior range-extending technology falls apart, the value of Tesla rises yet again, this time by almost two percent on Wednesday to US$9.7...
LMC Automotive's service provides customers with the very latest monthly estimates of passenger car production across all of Europe. Updated monthly and provided model-by-model, and available only via...
Magna International said its Cosma International operating unit was one of eight suppliers which received a BMW Supplier Innovation Award. It was recognised for a lightweight, high-voltage battery hou...
BMW Group is paving the way for continued success in the future with a high level of expenditure on new technologies and models and investments in its production network, shareholders were told at the...
BMW Group sales rose 6.8% in April 2013 to 155,419 vehicles worldwide while sales for the first four months of the year climbed 5.7% over 2012 to a record high of 603,619....
- ANALYSIS - Jaguar takes on Porsche with F-PACE
- THE WEEK THAT WAS - platforms to go to
- Peugeot steps up a gear with new 3008
- Delphi Powertrain VP on compliance - Q&A
- Geely/Volvo architecture cooperation bears fruit
- Peugeot reveals revamped 3008 compact SUV
- Tesla chooses Mando for autonomous technology
- US and UK motorists divided on driverless cars
- GKN wins plug-in AWD axle deal
- Volvo previews 2017 40 series on CMA platform