NAMI, Sollers and Tawazun Holdings formed a joint venture.

Tawazun Holding established a joint venture with NAMI, Russian research and development automobile and engine institute, and PJSC Sollers, one of the leading Russian OEMs, to develop and manufacture the Aurus range of luxury vehicles. NAMI will act as an engineering partner contributing technology and other IP in the JV, Sollers as a production partner will assemble Aurus-branded cars at its production facilities in Elabuga, Tatarstan, and Tawazun will invest EUR110m in the project and will act as an exclusive distributor in the MENA-region.