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