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. Last Updated: 07/27/2016

Gref Says 2 Carmakers Planning Plants

Economic Development and Trade Minister German Gref said another two foreign automakers would shortly announce their plans to produce cars, Interfax reported Monday.

Gref said two foreign carmakers, which he did not identify, would announce their production plans by year's end. He said 10 more automakers, including Chinese companies, were in talks to open automobile production.

Currently, Ford Motors, Renault and General Motors produce cars in Russia. Toyota, Fiat and Volkswagen will start production shortly. Gref said foreign automakers would produce more than 1 million vehicles per year in Russia from 2011 or 2012.

Volkswagen alone plans to produce 115,000 vehicles in the Kaluga region beginning in 2009. Volkswagen started building a 400 million-euro ($510 million) assembly plant on Saturday.

Car sales will probably reach 2.8 million units per year by 2010, Troika Dialog said.

(AP, Bloomberg)