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Volga Automotive Group plans to establish a joint venture in Russia with Chinese suppliers
From: Foundry Journal Agengy Time2014-12-9   No.1477 times Fontbig|small  Print

Russian news agency, Tass, reported on Sept. 10, 2014 that the Volga Automotive Group plans to establish a joint venture with Chinese enterprises to produce automobile parts in Russia.
    Volga CFO Evgeny Belinin disclosed that they plan to change their business models for some parts from purchasing to manufacturing inside the company to put an end to corruption in the supply chain.
    The purchasing level of Volga is about 1.4 billion rubles (US$3.78 billion) each year, accounting for as high as 56% of its overall revenue. CEO Bo Andersson said in a statement by the company that they plan to slash the procurement cost by about 2% this year.

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