South Korean truck giant TATA Daewoo enters Russian market

Kaliningrad auto manufacturer Avtotor announced Tuesday the beginning of production of TATA Daewoo trucks for the Russian market, the company's CEO Alexander Sorokin confirmed to local media.

Sorokin stressed that local jobs in the new sector would be preserved at all costs despite a slowdown in the Russian auto market this year.

The Russian auto market has witnessed an across-the-board drop in sales this year, Sorokin said.

Despite the ongoing crisis, TATA Daewoo has reiterated its intention to claim a 10 percent share in the Russian truck market over the coming years.

Given the current instability, however, production targets for the Kaliningrad facility have yet to be set.

Avtotor will produce a range of truck models for the South Korean giant, including the TATA Daewoo Prima and the TATA Daewoo Novus.