Falling Ruble Threatens Fiat and Renault LCV Project | News | The Moscow Times:
"Fiat and Renault may pull out of a car assembly deal with the Russian near century-old ZIL plant as a falling ruble makes the project unprofitable, Vedomosti reported Tuesday.
Previously Fiat and Renault were planning to use ZIL's facilities to assemble 50,000 light commercial vehicles, or LCVs, per year, 25,000 of each brand, but the negotiations have reached a deadlock, according to Vedomosti.
In August 2013, the two major European car producers signed a preliminary agreement with ZIL stating that the latter would negotiate co-production of LCVs exclusively with the two, which expired in March, said Igor Kulgan, CEO of the project operator MosAvtoZIL, a subsidiary of ZIL."
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