The FINANCIAL — Russian automaker GAZ Group [RTS: GAZA] intends to launch production of its new Siber car, priced at $18,000-$25,000, on March 28, business daily Vedomosti reported on January 28.
GAZ Group, which exports cars to 35 countries, will produce its new D class vehicle on the basis of the Chrysler platform acquired by the Russian company in April 2006. The cars will be on the market in June, Vedomosti said, citing Leonid Dolgov, director of the company's car division.
Under the $150 million project, Siber car production will reach 20,000 vehicles in 2008, and there are plans to bring output up to 65,000 cars a year by 2010, Dolgov earlier said.
GAZ will produce Siber cars at its Nizhny Novgorod facility in the Volga area.
