KamAZ is working on creating a passenger car division that will not be consolidated with the group’s main business. The company expects that this will be a new type of business. This was announced by the CEO of the company Sergey Kogogin.
“KAMAZ has an intention to form a passenger division. But, relatively speaking, it is unlikely to be a consolidation. We are forming a new type of business,” Sergey Kogogin told reporters at the Russian Industrialist forum (quoted from Interfax). At the request of Interfax, the company did not specify the details.
KamAZ specializes in the production of trucks. In the spring, the company also became a technical partner of the Moskvich plant, which was previously owned by Renault. In October, KamAZ purchased from the German manufacturer ZF Friedrichshafen AG a 51% stake in the joint venture ZF Kama LLC.