Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Russia begins production of high-end sedan promoted by Putin

Published 05/31/2021, 11:58 AM
Updated 05/31/2021, 12:01 PM
© Reuters. An employee works on an assembly line of the Aurus manufacturing plant in the town of Yelabuga in the Republic of Tatarstan, Russia May 31, 2021. REUTERS/Alexey Nasyrov

MOSCOW (Reuters) - Russia on Monday has begun production of the Aurus Senat luxury sedan car promoted by President Vladimir Putin.

Russia unveiled plans for the Aurus line of cars in 2013. Putin helped to promote its limousine model by driving it during his 2018 inauguration as president for a new six-year term.

Production of the sedan is unlikely to have a significant impact on Russia's car industry in the near future. Industry Minister Denis Manturov said 200-300 cars would be produced this year, the Vedomosti newspaper reported.

The car, seen as a prestige project for the Kremlin, with its most basic available features will cost 18 million roubles ($245,000).

© Reuters. An employee works on an assembly line of the Aurus manufacturing plant in the town of Yelabuga in the Republic of Tatarstan, Russia May 31, 2021. REUTERS/Alexey Nasyrov

Russia has also been trying to reduce its dependence on imported goods and technology, a drive that gathered speed after Moscow was hit by Western sanctions in 2014.

($1 = 73.3652 roubles)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.