BMW management finally abandoned plans to build its own factory in Russia for the production of cars. This was announced by the president of the BMW Group Russia Stefan Toichert, reports Autonews.ru correspondent.
“At the moment, all automakers are in a very difficult position. For about a year and a half, we discussed with the Russian government the conditions for special investment contracts (SPIC), but in July 2019 the negotiations were stopped because the rules of the game were not defined, ”explained Teichert.
In addition, the top manager emphasized that increasing recycling fees in 2020 made the conditions for companies that signed SPIC in 2019 and earlier unprofitable. He also did not rule out that a number of manufacturers may leave the Russian market due to changed conditions.