The construction of the Taganrog Automobile Factory started in spring 1997, under license and technology of South Korean concern Daewoo and was fully financed by Doninvest Finance & Industry Group with investment volumes of more than 260 million dollars. The newborn state of the art factory was commissioned in September 1998 when Doninvest launched the pilot CKD production of the Daewoo Lanos car. The technology of automotive industry in Taganrog represents a sophisticated work package consisting of welding, painting of car bodies, assembly and finishing of the car.

The annual production capacity is 120,000 vehicles in two shifts. As a result of economic turmoil in Russia and Asia in 1998-1999 (including Daewoo's bankruptcy), the production level of the factory fell sharply. The activity was revived after DONINVEST changed its strategic partner and signed agreements with Hyundai and Citroen. The sales forecast for the current year 2004 is 12,000 Hyundai Accents (with 1800 cu.cm. of engine displacement).

With the launch of middle-class sedan Hyundai Sonata (engine displacement 2000 or 2700 cu.cm.) at the end of 2003, the sales volumes in the next year reached 18,000 vehicles per annum. The current goal of the assembly plant in Taganrog is to produce 60,000 units annually starting 2006 and 120,000 units annually starting 2009.

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September 2, 2008


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