The construction of the Taganrog Automobile Factory started in spring 1997, under license and technology of South Korean concern Daewoo and was fully financed by Doninvest Finance & Industry Group with investment volumes of more than 260 million dollars. The newborn state of the art factory was commissioned in September 1998 when Doninvest launched the pilot CKD production of the Daewoo Lanos and Daewoo Nubira cars. The technology of automotive industry in Taganrog represents a sophisticated work package consisting of welding, painting of car bodies, assembly and finishing of the car.
The annual production capacity is 120,000 vehicles in two shifts. As a result of economic turmoil in Russia and Asia in 1998-1999 (including Daewoo's bankruptcy), the production level of the factory fell sharply. The activity was revived after DONINVEST changed its strategic partner and signed agreements with Hyundai. In the overall volume of Hyundai cars sold in Russia, the share of cars made in Taganrog is nearly 60%.
In 2007-2008, the assembly plant started production of new models: sedans C Elantra XD, Chery Fora; LCV Hyundai Porter; SUVs Santa Fe Classic, Tagger, Chery Tiggo, Road Partner; prime mover Tractor HD 500; buses County and Aero Town.
TAGAZ is considered to be one of the most state-of-the-art automobile assembly plants in Russia. Leading technologies and equipments from the South Korean, Japanese, German and American automakers and modern production facilities make it possible to simultaneously produce up to 20 different car models at plant’s facilities.
Read TAGAZ press and financial releases on TaganrogCity.Com:
January 10, 2022
September 2, 2008
May 5, 2008