The strategy for the development of the automotive industry of the Russian Federation until 2035, the draft of which was developed by the Ministry of Industry and Trade back in August 2022, was approved by the government at the end of December, said Deputy Prime Minister - Head of the Ministry of Industry and Trade of the Russian Federation, Denis Manturov. The document has not undergone radical changes, but some target indicators and investment amounts have been specified, the Interfax agency writes. From the final version of the strategy, the ambitious amounts of investments in the industry, which were given in the August draft, disappeared. For example, it spoke about the required amount of investment in R&D and the organization of the production of components in 2023-2035 in the amount of 2.7 trillion rubles. The amount necessary to stimulate demand for the same period was estimated in the project at 500-600 billion rubles, as well as export support.
According to the final version of the document, in order to achieve the target indicators of the strategy in 2023-2025 it will take up to 300 billion rubles of federal budget allocations for a comprehensive program to accelerate the localization of critical components. Necessary budget expenditures to stimulate demand in the industry in 2023-2025 estimated at 26 billion rubles annually. According to the results of 2022, about 21 billion rubles were allocated to them, including preferential car loans and leasing, stimulating sales of gas-powered vehicles and electric vehicles. The strategy will be implemented in three stages: short-term (2022-2025), medium-term (2026-2030) and long-term (2031-2035). Two scenarios for the development of the industry are assumed - basic and target. In the baseline, the share of produced cars in the Russian Federation from total sales in the country by 2035 will grow to 60% from the current 40%, in the target - up to 80%. The target scenario assumes "relatively high rates of achieving technological sovereignty due to an increase, among other things, in the volume of state financing of the automotive industry in terms of localization deepening of the production of critical components.
"At the same time, market protection should be more stringent, which, as noted in the document, "will reduce the influx of imported (new and used) cars into the market and provide a resource for investment in increasing the level of localization." The baseline scenario assumes that protectionist measures will remain approximately at the current level. "As a result, new cars and cars older than three years will enter the market in a significant volume, which will lead to lower growth rates in sales of Russian-made cars and limit the ability of automakers to invest in increasing the level of localization,” the text of the strategy says.
