Russia targets 2.8 million vehicle production by 2035
First Deputy Prime Minister Denis Manturov outlines automotive industry development strategy
Quick Look
- Russia aims to increase annual vehicle production to 2.8 million units by 2035, with domestic products capturing 80% of the market.
- First Deputy PM Denis Manturov emphasized maximizing existing production capacity as a key strategic goal.
AI-generated summary
Why It Matters
The Russian government is implementing an updated strategy to develop its domestic automotive industry. This follows the creation of production facilities capable of manufacturing over 3 million cars annually.
MOSCOW, August 31. /TASS/. It is planned to produce 2.8 mln vehicles per year by 2035 under the target scenario of the strategy for the development of Russia’s automotive industry, First Deputy Prime Minister Denis Manturov said at Prime Minister Mikhail Mishustin’s meeting with his deputies.
"Under the target scenario, we plan to produce around 2.8 mln vehicles per year by 2035," he said.
The share of Russian products in the domestic market of new vehicles is expected to increase to 80%, Manturov noted.
Modern production facilities capable of manufacturing over 3 mln cars per year have been created in the country, he said, adding that the key task in implementing the updated strategy for the development of the automotive industry is to maximize capacity utilization and improve the sector’s economy through scaling up production runs.
What to Watch
AI outlook — possibilities, not facts
Implementation of updated automotive industry development strategy
Likely · Within months
Open Questions
- What specific measures will ensure the 80% domestic market share?
- How will the industry overcome current supply chain constraints?
