OREANDA-NEWS  Gorky Automobile Plant (PJSC "GAZ") may present the first production model of a car under the Volga brand in 2024. This is with reference to the Deputy Prime Minister, the head of the Ministry of Industry and Trade of Russia Denis Manturov, Interfax reports.

The duration of the development of the new model will depend on the timing of the selection of foreign partners. The exact date when Russians will be able to see the first serial Volga will be announced at the beginning of next summer, Manturov added.

According to the Deputy Prime Minister, the assembly of the new model will be carried out at sites "vacated by foreign automakers." Factories where foreign models of cars were previously produced will be adapted and modernized for the production of cars that GAZ will produce.

After the announcement of the development of a new Volga model, the company's shares rose by 30.5 rubles. At the time of writing, their cost has risen to 898.5 rubles (plus 3.5 percent).

Until March 2022, Skoda Octavia, Karoq and Kodiaq cars, as well as Volkswagen Taos, were produced at the Gorky Automobile Plant in Nizhny Novgorod. In the summer, GAZ and Volkswagen terminated the contract assembly agreement, after which the Russian company demanded that the German concern pay it 15.575 billion rubles for non-fulfillment of its obligations.