Abu Dhabi’s Tawazun protecting will take a 36-percentage stake in Russian vehicle maker Aurus, making an investment 110 million euros ($124 million) in the agency inside 3 years, Russia’s industry ministry said in a announcement on Monday.
Tawazun turns into the principle Aurus distributor in North Africa and the Middle East, the Russian ministry said. The proportion of Sollers, another Russian vehicle producer, in Aurus will fall to 0.Five percentage because of the deal, it added.
Aurus is a assignment and emblem run through Russia’s Central Scientific Research Automobile and Automotive Engine Institute, referred to as NAMI.
NAMI owns a sixty three.Five percent inside the project, which, Russia has stated, will see it producing various luxury vehicles designed in the us of a.