Russian electric car maker Zetta denied shutting down the project to create an electric car, but said it was experiencing problems with financing and finding venture capital investors.
“No, we are not closed, we are a bit frozen due to (lack) of investment. There are problems since 2020 of a different nature: first COVID, now there are other problems here. But nobody closed anything, we are working. <….> We have everything ready, only there is not enough funding. We can launch within a year (subject to funding),” said Denis Shchurovsky, co-founder, director of development at Zetta, as quoted by TASS.
According to him, the project currently has the support of the Ministry of Industry and Commerce.
On August 22, several Telegram channels reported that Zetta had abandoned plans to start producing electric vehicles and cut the project. The Zetta was assumed to be the first mass-produced Russian electric car.
Production was planned to be organized at a plant in Togliatti. An electric car is a compact electric vehicle with three doors. Its maximum speed is 120 km/h.
Shchurovsky added that only venture financing, which is “not very developed” in Russia, is suitable for the project. Previously, the company negotiated and found potential investors in Switzerland, Portugal and other countries.
Author:
anastasia mariana
Source: RB
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