The Rostec State Corporation is acquiring the "Stavropol-Avto" car plant, which produced Great Wall Hover H3/H5 crossovers. The enterprise has not been operating since 2019. The buyer of the plant, located in Mikhailovsk, Stavropol Territory, will be "Tsentrostroyinvest", which is part of the Tekhnodinamika defense holding. These enterprises belong to Rostec. The transaction amount will be 2.3 billion rubles.
The non-operating plant occupies an area of 306 thousand square meters and is located on a territory of 200 hectares. Rostec does not plan to resume car production at this enterprise. Instead, the site will most likely be converted into a technology park for tenants from the small and medium-sized business sector. The possibility of creating defense production at these facilities is being considered.
It is worth recalling that the "Stavropol-Avto" enterprise became one of the largest failures in the Russian automotive industry. The plant was built in an open field, and the main investors were the Moscow Industrial Bank and entrepreneurs associated with the now defunct Derways company.
The site was launched in June 2017, but operated for only a year and a half, producing only 2.5 thousand GW Hower H3/H5 SUVs, with a capacity of 100-150 thousand cars per year. In July 2020, the plant was declared bankrupt due to multi-billion dollar debts, and since then, managers have been looking for a buyer.
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