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VEB.RF and Promsvyazbank to Finance Large-Scale Production of ATOM Electric Vehicles

20 june 2025 года
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VEB.RF, Promsvyazbank and KAMA JSC have entered into a syndicated loan agreement of 24 billion roubles to start the large-scale production of ATOM electric vehicles. This project uses the Project Financing Factory mechanism (under the supervision of the Russian Ministry of Economic Development). The signing ceremony took place at the St. Petersburg International Economic Forum 2025.

Igor Shuvalov, Chairman of VEB.RF: “This ambitious project proves the potential of Russian high-tech manufacturers. The government has assigned a high priority to the project and included it in the Project Financing Factory programme. This mechanism means that the government provides a subsidy to offset the growing key rate over the entire loan term. Our expanded pool of project financing partners now includes Promsvyazbank.”

In 2023 and 2024, the Industry Development Fund (coordinated by VEB.RF under a mandate fr om the Russian Ministry of Industry and Trade) granted two low-interest loans to KAMA JSC totalling about 10 billion roubles under the IDF’s Auto Parts programme. These loans were used to purchase die tooling to produce body parts and other exterior and interior elements.

Maxim Reshetnikov, Russian Minister of Economic Development: “Russia’s technological leadership is a priority goal set by the Russian President. The Ministry of Economic Development is developing an efficient model of government-business interaction wh ere the government grants financial and non-financial support, improves legislation relating to Russia’s technological policy, increases access to capital, while private investors develop and test modern technologies. It should be noted that production of eco-friendly electric vehicles is directly correlated with the national environmental policy to reduce greenhouse gas emissions.”

 Atom is marketed as the first production electric vehicle designed from scratch in Russia. According to the designers, the vehicle will deliver a 500-km drive range and accelerate to 100 km/h in 8 seconds. The vehicle’s embedded electronic architecture includes Atom OS, a cybersecurity operating system, digital marketplace and Atom ID unique identifier. 

Petr Fradkov, Chairman, Promsvyazbank:

“For many years Promsvyazbank has supported and taken an active part in developing the Russian automotive industry. Our joint project intends to strengthen the local production and makes a substantial contribution to developing domestic suppliers of components and software. This is indeed a large-scale and innovative project which is in line with the Russian Automotive Industry Development Strategy 2035. We will continue to expand cooperation with VEB.RF and Russian producers to support high-priority sectors,” said Petr Fradkov.

The Atom vehicle boasts a touchscreen wheel, voice control and AR HUD. This is a breakthrough experience of human-vehicle interaction.

“In a short time Atom’s team managed to create an electric vehicle platform from scratch, to deliver the vehicle's modern digital architecture and produce pre-production prototypes. Together with VEB.RF and Promsvyazbank, we can feel confident when starting a new important stage, industrialisation and launching large-scale production of the first Russian electric vehicle,” said Igor Povarazdnyuk, General Director of KAMA JSC.


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