Russian Technologies is to set up a joint venture with Fiat Group’s Iveco truck division to supply LMV M65 light multi-purpose military vehicles for the Russian military, according to Russian media.
Reports from Moscow indicate the Russian defence ministry aims to spend around US$1bn on the models, which will be used by the army.
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The vehicles could be assembled at the factories of truck maker Kamaz, in which Russian Technologies and German carmaker Daimler hold stakes.
“This project has been sanctioned by the top leadership,” an unnamed source told Russian media, which also reported trial vehicles could be made this year.
