VIENNA — The Russian and Czech governments have signed a letter of intent to build Skoda passenger cars in Russia with carmaker AO Izhmash located in Izhevsk. Skoda a.s. will hold a majority of the joint venture as well as management responsibility. The company plans to invest DM500 million (US$303 million) in the project, which could start production during the middle of this year with the assembly of Felicias. Several thousand cars could be assembled in 1999. Early next decade Skoda ...
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