Russia's Richest Man Given Putin's Blessing to Produce Electric Cars

Car said to be a VW Golf-class sedan that uses plastic body panels with a target price of 8,800 Euros (US$12,400).

Published: 20-Jan-2010

MOSCOW - Russia's richest man, Mikhail Prokhorov won early backing from Prime Minister Vladimir Putin for his plan to start mass production of electric cars, Putin's spokesman said on Tuesday.

Russia is seeking to modernize its commodity-based economy, which was hit hard by the global crisis when energy prices fell, and wants to achieve growth in technology sectors where it believes it may have some competitive advantage.

Prokhorov, a gold-to-basketball entrepreneur who sold some of his most lucrative assets just before the crisis, is sitting on a cash pile he is ready to invest. He has previously demonstrated strong interest in technology.


Camille Jenatzy was first to break 100km/hr speed barrier in his 1899 electric car, La Jamais Contente.

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The range limitations of most early electric cars will matter less in tightly packed urban areas, where the daily driving distance is likely to be much shorter than in the suburbs or rural areas.


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