Avtotor reduces 2024 production forecast to 80-100,000 cars

KALININGRAD. April 15 (Interfax) - Kaliningrad's Avtotor is planning to produce about 80-100,000 cars by the end of 2024, Chairman of the Board of Directors of Avtotor Holding LLC Valery Gorbunov told reporters.

"Today we will work on 7 brands [including commercial vehicles], of which 4 [models] are already on production lines. In the near future, there will be another one, and a sixth by the end of the year. If the technical preparation goes well, then there may also be a 7th [passenger car] brand," Gorbunov said.

It was previously reported that Avtotor had planned to assemble 100-130,000 cars in 2024. The automaker produced 38,000 cars in 2023; the production forecast was revised several times during the year.

As for production of Amberauto, its own brand electric vehicles, Gorbunov said that Avtotor produced the first run of 200 cars. "This year we want to increase production to 3,000 units. Right now, there is a break in production to get components and finalize technical and technological issues. Some technical issues have shown that there is some work to be done," he said.

Avtotor has been producing cars since 1997. The company produced German BMW models, as well as South Korean Kia and Hyundai cars until 2022 (production of all of these was discontinued in 2022).

Currently, Avtotor assembles passenger and commercial vehicles from Chinese brands Kaiyi, BAIC, SWM, Foton, Dongfeng Sokon, JMC and Jetour.

In addition, Avtotor, as part of its existing Special Investment Contract with the Russian Ministry of Industry and Trade and the government of the Kaliningrad region, is implementing a project to create a cluster of 12 factories for the production of electric vehicles and automotive components. The total investment for the implementation of these plans, considering current investment obligations, will be over 70 billion rubles.