Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 20 (Xinhua)-- Russia will revive the iconic Soviet-era car brand "Moscovici", according to CCTV Finance citing Today Russia.

Reported that Moscow Mayor Sobyanin announced that the former Renault plant in Moscow will resume production of an upgraded version of the Soviet-era iconic car brand Moscovici, which will begin as early as next Monday (November 21).

According to the plan, the factory will produce "state-of-the-art" cars, including one car and four cross-border cars, as well as electric vehicles, possibly within two to three years.

It is reported that the factory was built in 1930 and was acquired by Renault at the beginning of the 21st century, thus halting the production line of Moscovici cars. In May this year, due to Renault's withdrawal, the factory was handed over to the Moscow authorities.

CTOnews.com learned that at present, Russian local best-selling brands and models mainly come from Chinese brands. According to AUTOSTAT, a Russian analyst, there are four Chinese brands in the Top 10 list of new car sales in September, with Chery in second place, Harvard in fourth place, Geely in sixth place and Xingdu in eighth place. Hot-selling models are also dominated by Chinese brands, and data show that eight of Russia's top 20 best-selling cars are Chinese brands.

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