Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

Yo-mobile: Transfer Of Rights
April 6, 2014 22:34


Yo-Engineering Company projecting "Yo-mobile", transferred to FSUE NAMI all the design documentation and the exclusive rights to know-hows in a number of designs.

Yo-Mobile hybrid project publicly announced by Mikhail Prokhorov in 2010, which received more than 200 thousand pre-orders, is actually closed.

The agency was informed by ONEXIM Group that Yo-Engineering Company, which deals with Yo-Mobile project, transferred to FSUE NAMI all the design documentation and the exclusive rights to know-hows in car's body and chassis design. The agreement on the transfer of rights was signed on April 3. The deal cost symbolic € 1. ONEKSIM Investment Director Valery Senko explained that "Russian car market conditions and the overall economic situation have changed significantly.

Weakening of the ruble has dramatically increased the cost of production," since most of the equipment was planned to be imported. Since 2010, "the project parameters have changed. Its budget could be € 450 million," but "several hundred million euros" have already been spent for researches. Against the background of falling demand, the inefficiency of the project became apparent. Therefore it was decided to transfer the groundwork to the state.

Yo-Auto will retain only the "Yo" brand. "We received offers from foreign companies to sell the technology, but there was taken a principled decision to leave it in Russia," Senko stated. Deputy Head of the Ministry of Industry and Trade Alexey Rakhmanov told "Kommersant" that the Ministry and NAMI "gratefully embraced the transfer of the technologies. "We will analyze their findings and then will decide on what specific projects they can be useful for," Rakhmanov summed up.

Author: Anna Dorozhkina

Tags: Mikhail Prokhorov Yo-mobile    

Next Previous

You might also find interesting:

The Worst is Yet to Come: Deutsche Bank Predicts Further Weakening of the Ruble Due to Navalny and the US Elections Museum Revolution Yandex Plans IPO on Nasdaq The Resident Of Krasnogorsk Made a Mini-resort On the Roof Of His House Foreign Companies with the Best Reputation in Russia

Comment on our site

RSS   twitter      submit

Russian business  Sevsk  Yotaphone  Theatre Festivals  Novoaltaisk  Installations  Russian Rock  capital amnesty  Concerts in Moscow  Olympics 2012  Russian Museums   Russian Theater  Mercedes-Benz Fashion Week Russia  Fairs in Moscow  Red Square  Russian economy  Zenit  Voronezh   Russian scientists  World Aquatic Championship  Russian Metro  Russian tourism  Aquarium  fan zone Mexico  St. Petersburg  Sokolniki Park  ecology  Joy Division  Russia-Indonesia  All-inclusive  Stroller Parade  Exhibitions in Moscow  Ivan Kalita  Alexei Batalov  Organ Concerts  Russian Antarctica  Rybinsk   Sculpture  Russian science  Russian Poetry  Pobeda  Irkutsk Region  Art Exhibitions  Ryazhsk  Moscow  Russian roads  Kazan  March 8  Marina Gisich Gallery  Russian Cinema 

Travel Blogs
Top Traveling Sites