Russian state entity NAMI stated on Wednesday it had acquired a 100% stake in a manufacturing unit producing anti-lock brakes and different techniques for vehicles that was previously owned by German provider Robert Bosch.
NAMI, Russia’s Central Car and Engine Analysis and Growth Institute, has been snapping up belongings from world automakers that left Russia over its invasion of Ukraine.
NAMI has already taken over crops that have been beforehand run by Renault, Nissan and Toyota.
The value of the transaction was not disclosed, however NAMI has picked up different belongings for nominal charges.
“Beforehand the corporate was engaged within the manufacturing of steering techniques, anti-lock braking techniques and digital stability program techniques,” NAMI stated.
NAMI stated the 107 workers employed on the manufacturing unit within the Samara area on the time of the transaction would proceed to work and that it was working with Russia’s trade and commerce ministry to restart manufacturing from 2024.
Bosch is ranked No. 1 on the Automotive Information Europe checklist of the highest world auto suppliers, with worldwide gross sales to automakers of $49.14 billion in 2021.