Foreign auto-makers interested in Severstal sheets

Foreign auto-makers interested in Severstal sheets

Russia's Severstal Auto, an affiliate of Severstal is reportedly attracting foreign car-makers. Sources report that German auto-makers are the most interested ones. Daimler-Chrysler, which reportedly plans to build a new plant in St. Petersburg, considers supplying steel to the new plant from the local sources. The company is also looking to assemble Mercedes-Benz cars in Russia for the domestic market. Moreover, Toyota, which will open a new plant in St. Petersburg in 2007, will produce 20'000 Camry cars per year for the Russian market. Apart from the above-cited car manufacturers, Volkswagen is also planning to assemble cars in Russia; however the company has not decided from where to buy steel.