Page 106 - RusRPTDec19

exclusive interview “​Sergei Petrov - Russia's billionaire car salesman​”. The company was called Rolf to emphasis its foreignness as Rolf is never used as a name in Russia. However, he has fallen foul of suspected corporate raiding and ennui at his success and the ​company’s offices were raided in June​ as part of a money laundering investigation. Petrov was ordered not to leave the country. He denies any wrongdoing and claimed the investigation was part of a corporate raid. In March, the company announced it is ​considering an IPO​. According to the latest reports the asset will first be proposed to a small number of undisclosed investors in Russia and abroad. Rolf made RUB230bn revenues and RUB6.3bn in net profit in 2018.
The​ ​Russian Engineering and Manufacturing Company​ (REMC) will launch Russia’s first domestically made electric car Zetta ​(Zero Emission Terra Transport Asset) in 2020. Its certification is in the final stages of being issued, the Minister of Industry and Trade Denis Manturov said on November 24, as cited by Tass. Zetta would be the first wholly Russian designed and produced e-car. It is designed to run at up to 120km/h with a no-recharge distance of of about 200km. If plans to go into production come to fruition then the goal is to start production of 15,000 units annually in the initial stage. Previous reports indicated that Zetta’s retail price would be on the order of $7,000, which would make it the cheapest EV in its class in the world, on par with other under-$10,000 models such as Renault City K-ZE and Ora R1.
106​ RUSSIA Country Report​ December 2019 ​ ​www.intellinews.com