Russia's Richest Man Plans to Launch New City Car

by Jeremy Korzeniewski (RSS feed)
Jan 28th 2010 at 7:02AM

Mikhail Prokhorov, also known as the Richest Man in Russia and hopeful new owner of the New Jersey Nets NBA franchise, is reportedly planning to launch a new city car through his Onexim Group. Reports coming out of Russia are saying that the vehicle will sport some kind of "advanced technology," which many are taking to mean either a hybrid or fully electric drivetrain.

The car will be built in the Yarovit Motors plant in Russia, and in order to get the new city car into production, Onexim is putting in an estimated $141 million investment. That's an amazingly small amount of money to get a new project such as this off the ground, leading many to suggest that it will never happen unless the government gets itself involved somehow.

In any case, the goal is to put the small eco-friendly vehicle on the road for about $12,500. At that price, the machine would be going up against such well-known and formidable competitors as Volkswagen and General Motors. We'll just have to wait and see how this one plays out.

[Source: Inside Line]

Tags: Mikhail Prokhorov, MikhailProkhorov, onexim, onexim group, OneximGroup, russia, yarovit, yarovit ev, yarovit motors, YarovitEv, YarovitMotors

Filed under: Luxury Cars & Autos, Green, Wealth

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Reader Comments (Page 1 of 1)

frilund Jan 28th 2010 7:46AM

Russian cars are not well-known for their quality, will be interesting to see how this one will be.

I like the idea of such a car. Good price and suitable for a busy city.

omaee entertainment LLc Feb 5th 2010 8:36PM

Remember if you build with 2, 3 providing companies with specific design componants, sell 1, make 3, build assemble 2, same colour.

3, than 3 x 2 a month. until you sell 100 cars than you sell of 50 without $ any more and store the nonassembled for warrenty. exp. and replacement for profit.

Than redesign and reuse. 60% with new design and preorder 50 vehicals
perhapes less untill 2 types with 60% real road proven componants are exceeding warrenties and providing service work without corprate loss.

I should work more in this business.

omraee entertainment LLC. Feb 5th 2010 8:42PM

the omaee entertainment lLlc is the same email

auto cazar is this your artical

omraee entertainment LLC. Feb 5th 2010 8:42PM

MyKisa Feb 14th 2010 4:15PM

....Russian GOVERNMENT cars have proven to be flops, but from the private sector it could be just fine

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