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05 Dec

Russia ups components programme funding to support automotive

The Russian government will allocate an additional RUB 15 billion ($164 million) to subsidise preferential loans from the Industrial Development Fund (IDF) for automotive components localisation projects, says Russian Prime Minister Mikhail Mishustin. This will help support Russian automotive production. The subsidies will be used to finance at least ten significant projects, including the serial production of an anti-lock braking system and passive safety element…
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