Localization of key auto components in Russia requires 300 bln rubles in state financing through 2025 - strategy

MOSCOW. Dec 30 (Interfax) - A comprehensive program to accelerate localization of critical automotive components in Russia requires up to 300 billion rubles from the federal budget in the period of 2023-2025, according to the development strategy of the automotive industry through 2035.

The strategy was approved by the Russian government and published on the official legal information website on Friday.

Achieving the targets of the strategy in 2023-2025 requires up to 26 billion rubles in budget spending annually to finance state programs supporting demand for automotive products.