Mikhail Prokhorov’s Automobile Venture

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The richest man in Russia, Mikhail Prokhorov is hoping to become the newest owner of the New Jersey Nets NBA franchise, but he is also planning to release a new car through Onexim Group. The ambitious tycoon’s project is reportedly an “advanced technology vehicle,” which can either mean that the car will be a hybrid or perhaps a completely electric ride.

His project will be built in Russia’s Yarovit Motors, and Onexim is putting down an estimated $141 million investment to get the project going. The ultimate goal is to put this vehicle on the road for the low price of $12,500 each, causing it to compete with brands like Volkswagen and General Motors.


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