New MAZ plant to produce third-generation passenger vehicles

A new MAZ plant is scheduled to be launched in early 2025 – as informed by Aleksandr Ignatyuk, the Director of Economics and Deputy General Director of JSC Minsk Automobile Plant – Managing Company of BELAVTOMAZ Holding, Minsk-Novosti reports

The company has been operating with a net profit for five years, and H1 2024 was no exception: profitability amounted to 8 percent, which was a good indicator for mechanical engineering. The Minsk Automobile Plant significantly increased production volumes: in six months, 1,088 more vehicles were assembled than in the same period of 2023.

“We can assert that the business plan for 2024 will be surely fulfilled and even exceeded in terms of production and sales, financial results and investments. The plant is operating with a net profit. Our main strategic goal now is to complete the construction of a new bus factory, which should become a pride of the Minsk Automobile Plant in the coming few years. We will finish the main works this year and, at the end of 2024 or in the beginning of 2025, we will launch a new production facility," Mr. Ignatyuk said.

According to the official, the new plant will produce third-generation passenger vehicles with a unified frame structure, but different types of engines: diesel, gas and electric. “We will focus on third-generation buses and promote them more actively. Meanwhile, during the transition period from the second generation to the third one, we will be producing both types simultaneously,” he noted.

Mr. Ignatyuk added that the company sells its products to more than 40 countries worldwide at present: Russia, Kazakhstan, Uzbekistan and other CIS countries, as well as Southeast Asia, Africa and South America. Export volumes are growing both in terms of volume and value.