Russian-Japanese JV plans to start producing electric cars in Primorye in 2019
VLADIVOSTOK. Nov 1 (Interfax) - LLC Prometey, a joint venture (JV) between Sumotori Technoholding and Japanese corporation Arai Shoji Co. Ltd., is planning to launch a factory producing electric cars in Primorye in 2019, the Economic Development Ministry's press service said.
Investment in the project will total around 500 million rubles.
"We had originally planned to convert second hand Japanese cars into electric cars, using the tariff preferences of the Free Port of Vladivostok. However, EV technology is developing rapidly, enabling us to move directly to the second stage of the project, producing fully environmentally friendly vehicles at our own factory in Primorye in the Nadezhdinskaya priority development area (PDA)," Sumotori chief Vitaly Verkeyenko was cited as saying by the press service.
The company intends to begin construction of the plant this year and not in spring 2018 as earlier planned.
LLC Prometey obtained the status of Nadezhinskaya PDA resident in July. The company planned to convert fuel-efficient second-hand Japanese cars into electric cars. The Suzuki brand was chosen as the core platform for this stage.
This will not be Sumotori and Arai Shoji's first project.
Last week Sumotori, Arai Shoji Co. Ltd. and Japanese company Royal AutoParts started building the first car scrapping plant in the Far East. Investment in the project will exceed 300 million rubles.
In addition, Sumotori created a joint venture with China's First Automobile Works (FAW), LLC Yubo-Sumotori in Artem in Primorye. The JV is expected to manufacture its first production batch of FAW branded trucks by the end of 2017.