Russian analytical agency Autostat has announced that Russian automobile manufacturer Avtovaz expects to increase car production by about 16 percent to 500,000 units in 2023, from 430,000 units in 2021, with a likelihood of future production of 800,000 units per year.
The company plans to allocate RUB 1 billion ($19.57 million) for research and development works this year.
In April this year, the vast majority of Russian car factories, including Avtovaz, were idle amid the lack of components due to the rupture of supply chains resulting from the war between Russia and Ukraine, as SteelOrbis previously reported.