Started mass production at the Alabuga Special Economic Zone in Tatarstan Republic of the Russian Federation in 2014, Coskunoz Holding will manufacture various auto body parts for Russia’s first luxury vehicle Aurus.
The new project carries considerable weight for the company in terms of prestige, according to Erdem Acay, CEO of Coskunoz Holding.
“Our subsidiary Coskunoz Alabuda will manufacture molds and sheet metals of Sports Utility Vehicle (SUV), Multi-purpose Vehicle (MPV) models of Aurus. We think that these vehicles will enter the automotive market as a strong player and reshape competition in the luxury vehicle category,” said Acay.
Coskunoz Holding has invested nearly EUR 60m in the Alabuga Special Economic Zone so far and the company aims to further invest EUR 15m in 2021 and 2022 in order to expand its investment geography in Russia.
The Aurus project has been carried out under the leadership of the Central Scientific Research Automobile and Automotive Engines Institute of Russian Federation (NAMI). Manufacturing of the project has been undertaken by Ford Sollers, the joint venture of the U.S.-based Ford and Russia-based Sollers, while the UAE-based Emirates Tawazun Fund included in the project as investor. Mass production of Aurus began on May 31.
The facility of Aurus has an annual production capacity of 5,000 units, according to Adil Sirinov, General Director of Ford Sollers and Aurus. As says Sirinov, they mainly focus on exports within the frame of the new investment.