Russia's Yo-Auto, a joint venture between truck maker Yarovit and Onexim investment group, owned by billionaire Mikhail Prokhorov, will start production of Yo-Mobile hybrid cars in the second half of 2012, Chief Executive Officer Andrei Biryukov said on Thursday.
"We will launch production of Yo-Mobile cars at the St Petersburg plant in the second half of 2012. Annual output in the first stage will amount to 10,000 cars," Biryukov said, adding that the company was coordinating legal issues and discussing the possibility of launching assembly plants in other regions.
"Our plan is that assembly plants will be located in all major regions depending on the number of consumers."
In December, Prokhorov presented three prototypes of the Yo-Mobile hybrid car, including hatchback, van and cross-coupe vehicle models. Yo-Mobile cars will cost 350,000-450,000 rubles ($11,865-$15,255)
Deputy Minister Trade and Industry Andrei Dementyev said in January that Yo-Mobile was a promising project, but he doubted the implementation period was realistic.
ST. PETERSBURG, February 17 (RIA Novosti)
