Russia’s economic development and trade minister German Gref has said that Volkswagen is expected to sign an agreement on the construction of an assembly plant in Russia with the ministry within a month, ITAR-TASS reported.
Go deeper with GlobalData
Gref was speaking at a Russian-German economic forum in the Siberian city of Tomsk.
VW’s executive board approved the construction of the assembly plant last week the report said. Earlier this month VW’s director for Russian projects Detlef Wittig said that the location for the Russian plant may be chosen in May.
The company is choosing between five locations, Wittig added.
VW is rumoured to be considering the town of Stupino, 55 miles (90 kilometres) from Moscow, and the Yaroslavl Region, according to earlier reports.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataVW planned to assemble VW Polo and Skoda Octavia models at its Russian plant, Wittig said.
In 2005, Volkswagen’s sales in Russia rose 57% year on year to 13,911 vehicles, the news agency said.
