GAZelles to be: Russia increased support for the Gorky Automobile Plant from 10 to 20 billion rubles

The government has increased support for the Gorky Automobile Plant: the maximum amount of a subsidized loan for the GAZ automobile plant has been increased from 10 billion to 20 billion rubles. This order was signed by Russian Prime Minister Mikhail Mishustin.

We are talking about a loan at a rate of up to 11% per annum, which is available under the new preferential loan program. According to the terms of the program, one enterprise can receive up to 10 billion rubles as a loan, and a group of companies – up to 30 billion. Prior to this, the car plant could not count on a loan of more than 10 billion rubles, which could lead to a decrease in working capital and affect its work.

The government launched a program to support backbone organizations of industry and trade that found themselves in a difficult situation due to sanctions in March 2022. This is part of a set of measures to ensure the sustainability of the Russian economy.

GAZelles to be: Russia increased support for the Gorky Automobile Plant from 10 to 20 billion rubles

Earlier it was reported that the Gorky Automobile Plant would soon be deprived of access to foreign-made units. At the moment, GAZelles and Valdai Next use a Cummins diesel engine, some buses use Allison and ZF automatic transmissions, and diesel engines use Bosch control electronics.

In March of this year, the Gorky Automobile Plant sold 2886 light commercial vehicles, which is 36% less than in March last year. GAZelle remains the sales leader in March of this year with the result of 2274 cars sold.

Source: ixbt

You may also like