Billionaire plans hybrid initiative Russian wants cheap hybrid cars

D The car, powered by a petrol and electric motor, will first be built in a new plant in Saratov and cost around 10,000 euros, as the Russian government newspaper 'Rossijskaja Gazeta' wrote on Tuesday (December 14th). The oligarch had presented three hybrid models in Moscow the day before. Such city cars have not yet existed in any country on earth, he said.

Experts doubt planned sales price

Up to 10,000 cars a year are to be produced in the first factory near Saratov on the Volga roll. Prokhorov estimated the investment required at around 150 million euros. At the same time, he did not rule out the construction of car plants abroad. With the new cars, he wanted to prove that Russia can build good cars, he said at the presentation in Moscow. The factory in Saratov is expected to be in the black in three years.

According to Russian media, the cars will be equipped with a 60-horsepower hybrid engine that consumes an average of 3.5 liters of petrol or gas per 100 kilometers. Experts doubted, however, that Prokhorov would actually be able to offer the cars for so little money without writing losses. In addition, the billionaire has not made a name for himself as a sponsor of the local auto industry.