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Top related persons:
Gleb Stolyarov - 3 Alexander Marrow - 3 Vladimir Putin - 2 Sehol - 2 VAZ - 1 Alexey Malgavko - 1 Haval - 1 Barbara Lewis - 1
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Russia Ukraine Soviet Moscow Tula Izhevsk West shuns Russia Lyubertsy
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Nissan - 3 Thomson - 3 Lada - 2 REUTERS - 2 Renault - 2 West shuns - 1 Kommersant - 1 Apple - 1

Search resuls for: "Industry and Trade Ministry"


9 mentions found


☆ Moscow tells officials to buy Russian Ladas, Chinese cars
  + stars: | 2023-10-20 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Alexey Malgavko//File Photo Acquire Licensing RightsOct 20 (Reuters) - Russia's government on Friday published a list of domestically-produced cars that state officials should buy, all either Russian or Chinese brands, highlighting Beijing's infiltration of Russia's automobile industry since the Ukraine war. As the West shuns Russia, Russia has shunned Western corporations. The Russian cars listed were five Lada models, produced by Russia's largest carmaker Avtovaz, as well as the UAZ, Aurus and Moskvich brands, and Evolute electric cars. The Moskvich, a revived Soviet-era car, is emblematic of China's growing sway over Russia's car industry. Five models of Chinese carmaker Haval, which has been producing cars at its plant in the Tula region, 200 kilometres from Moscow, since 2019, were listed.
Persons: VAZ, Alexey Malgavko, Vladimir Putin, Sehol, Haval, Gleb Stolyarov, Alexander Marrow, Barbara Lewis Organizations: Lada, REUTERS, Renault, Nissan, West shuns, Kommersant, Apple, Industry and Trade Ministry, Russia's, Reuters, Thomson Locations: Soviet, Izhevsk, Russia, Ukraine, West shuns Russia, Moscow, Tula
☆ Made in Russia? Chinese cars drive a revival of Russia's auto factories
  + stars: | 2023-07-20 | by ( Gleb Stolyarov Alexander Marrow | Gleb Stolyarov | Alexander Marrow | ) www.reuters.com   time to read: +9 min
IMPORTED ASSEMBLY KITSAfter a chaotic decade following the collapse of the Soviet Union in 1991, Russia encouraged Western carmakers to build factories. "Undoubtedly, the expansion of Chinese carmakers on the Russian market will continue," said Andrey Olkhovsky, the head of dealership chain Avtodom. It is a radical change of fortunes for Chinese carmakers in Russia. Production of Chinese vehicles only began in Russia in 2019 with the arrival of Chinese automotive company Great Wall Motor (601633.SS). LESS LOCAL INPUTUnder the partnership with Chinese firms, less of the production at former Western factories is currently conducted in Russia, the sources said.
Persons: Jetour, Maxim Shemetov, Moscow's, Sergei Sobyanin, French carmaker, JAC, Sehol, Moskvich, capitalising, Vladimir Bespalov, Vladimir Putin, Andrey Olkhovsky, Olkhovsky, Wall, Sollers, Avtovaz, Denis Manturov, Gleb Stolyarov, Alexander Marrow, Zhang Yan, Daniel Flynn Organizations: REUTERS, French, French carmaker Renault, Moscow Automobile Factory, JAC Motors, Reuters, Renault, Nissan, Russia's Industry, Trade Ministry, Wall, Chery, Geely, HK, Argo, Ford Transit, Nissan's St, Lada, China's FAW Group's, FAW, Western, Trade, Thomson Locations: Lyubertsy, Moscow Region, Russia, Soviet, Moscow, Anhui, Ukraine, Soviet Union, Western, Tula, Autostat, Tatarstan, Nissan's, Nissan's St Petersburg, St Petersburg, Leningrad, Japan, Europe, China, Shanghai
☆ Russia takes over another Western asset with Bosch plant deal
  + stars: | 2023-06-14 | by ( ) www.reuters.com   time to read: +1 min
NAMI, Russia's Central Automobile and Engine Research and Development Institute, has been snapping up assets from global carmakers that left Russia over its invasion of Ukraine. NAMI has already taken over plants that were previously run by carmakers Renault (RENA.PA), Nissan (7201.T) and Toyota (7203.T). The price of the transaction was not disclosed, but NAMI has picked up other assets for nominal fees. "Previously the company was engaged in the production of steering systems, anti-lock braking systems and electronic stability programme systems," NAMI said in a statement. Reporting by Alexander Marrow and Gleb Stolyarov Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: NAMI, Robert Bosch, carmakers, Alexander Marrow, Gleb Stolyarov, Mark Potter Organizations: Central Automobile, Research, Development Institute, carmakers Renault, Nissan, Toyota, Thomson Locations: Russia, Ukraine, Samara
☆ Russia was cut off by Viagra's manufacturer, leaving the Kremlin scrambling to commission generic erection pills
  + stars: | 2023-02-15 | by ( Azmi Haroun | ) www.businessinsider.com   time to read: +2 min
Russia has been cut off by the pharmaceutical company that produces Viagra, according to the Washington Post. On Wednesday, Russia also announced that 36 companies were raring to produce a domestic alternative. Viatris initially stopped clinical trials in Russia after the Kremlin launched an invasion into Ukraine in February 2022, the Post reported. Throughout the year, Viatris suffered financial losses in Russia due to supply chain issues but continued to supply pills to pre-existing patients. According to the Post, Ukraine adopted a law in May 2022 which banned the sale and distribution of medication from companies that maintained ties with Russia.
☆ Sony plans smartphone sensor factory in Japan - Nikkei
  + stars: | 2022-12-15 | by ( ) www.reuters.com   time to read: +1 min
Dec 15 (Reuters) - Sony Group Corp (6758.T) is considering building a new factory to make smartphone image sensors in the Kumamoto prefecture of Japan, Nikkei reported on Thursday. The company plans to break ground on the plant as soon as 2024, and bring it online in fiscal 2025 at the earliest, the report said, adding the company expects the cost to run into the billions of dollars. Japan, which long ago lost its lead on chip manufacturing, particularly advanced semiconductors, is rushing to take advantage after Washington restricted Beijing's access to the technology and asked its allies to do the same. Sony plans to source chips from Taiwan Semiconductor Manufacturing Co's (2330.TW) planned chip plant in the area, the report said. ($1 = 137.8500 yen)Reporting by Chavi Mehta in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
☆ Russia relaunches production of Soviet-era Moskvich at ex-Renault plant
  + stars: | 2022-11-23 | by ( ) www.reuters.com   time to read: +2 min
It sold its plant, now renamed the Moscow Automobile Factory Moskvich, for another rouble. The ultimate target of producing 100,000 Moskvich vehicles a year, some of which will be electric, is far below the industry average for a car plant of between 200,000-300,000. "The first Moskvich cars will come off the production line in December 2022," truck maker Kamaz <KMAZ.MM>, the plant's technological partner, said in a statement. Sources have told Reuters that Chinese carmaker JAC's design, engineering and production platform will be used to produce the brand. The ministry said the launch of full-scale production would provide jobs for around 40,000 more people.
☆ Nissan takes $687 mln loss as sells Russian business for 1 euro
  + stars: | 2022-10-11 | by ( ) www.reuters.com   time to read: +3 min
A view shows the logo of Nissan on a car in Moscow, Russia, July 6, 2016. The Japanese automaker transfer its shares in Nissan Manufacturing Russia LLC to state-owned NAMI, it said. The deal will give Nissan the right to buy back the business within six years, Russia's industry and trade ministry said. The deal makes Nissan the latest major company to leave Russia since Moscow sent tens of thousands of troops into Ukraine in February. The Nissan deal was "of great significance for the industry," Russia's Industry and Trade Minister Denis Manturov said in a statement.
☆ Japan's Nissan sells Russian assets to state, trade ministry says
  + stars: | 2022-10-11 | by ( ) www.reuters.com   time to read: +1 min
A view shows the logo of Nissan on a car in Moscow, Russia, July 6, 2016. REUTERS/Maxim ZmeyevSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 11 (Reuters) - Japanese automaker Nissan (7201.T) is selling its Russian assets to Russian state ownership, with an option to buy back the business within six years, Russia's industry and trade ministry said on Tuesday. Nissan in a statement said it had decided to exit the Russian market and expected to incur an extraordinary loss of approximately 100 billion yen ($686.72 million) from the asset transfer. Renault reportedly sold its stake in Avtovaz for one rouble ($0.0157). "'Nissan Manufacturing Rus' is transferring its assets to the state - a deal of great significance for the industry," Industry and Trade Minister Denis Manturov said in a statement.
☆ Nissan takes $687 million loss as it sells Russian business for 1 euro
  + stars: | 2022-10-11 | by ( ) www.cnbc.com   time to read: +2 min
The Japanese company will transfer its shares in Nissan Manufacturing Russia LLC to state-owned NAMI, it said. The deal will give Nissan the right to buy back the business within six years, Russia's industry and trade ministry said. The sale to NAMI will include Nissan's production and research facilities in St Petersburg as well as its sales and marketing center in Moscow, the ministry said. Nissan said it expected an extraordinary loss of around 100 billion yen ($687 million), but maintained its earnings forecast for the financial year ending in March. The Nissan deal was "of great significance for the industry," Russia's Industry and Trade Minister Denis Manturov said in a statement.
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