Ministry of Industry and Trade of the Russian Federation and Haval signed an investment contract for 42 billion rubles

The Chinese automaker Haval has signed a special investment contract with the Ministry of Industry and Trade of the Russian Federation for the localization of production in Russia. The press service of the Ministry of Industry and Trade of the Russian Federation reports about it. The Minister of Industry and Trade of the Russian Federation Denis Manturov said that Haval was the first Chinese automaker to conclude such a contract. The volume of investments of the Chinese company in the localization of production in Russia will be 42.4 billion rubles. The Haval plant in the Tula region was launched in June 2019. The production capacity of the plant is 80 thousand cars per year, in the future the capacity will be increased to 150 thousand units per year. Currently it includes workshops for stamping, welding, painting, assembly and production of components. As part of the new investment contract, engine production will be launched at the Haval plant. It is planned that it will provide the production and assembly of engines for 90% of Haval cars produced in Russia. Construction is expected to be completed in 2022. As previously reported by the news agency, in June and August 2020, the Haval F7 model became the best-selling Chinese crossover in Russia.

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