OAO IzhAvto and Kia Motors Corp. ink a deal for assembly of the Kia Spectra 4-door sedan in Russia. Izhevsk-based IzhAvto will begin producing the Spectra, sold as the Kia Shuma in Europe, beginning November 2004. Output is targeted to hit 1,000 units in 2004 and 40,000 in 2005. The plan is to reach annual production of 120,000 cars by 2007. The deal also calls for Kia to provide technical training for IzhAvto’s workers and assistance in upgrading the company’s facilities. There is no ...
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