KAMAZ

KamAZ is one of the top twenty manufacturers of heavy trucks and leads the Russian market. The unified production complex of the KamAZ group of organizations covers the entire technological cycle of truck production - from the development, manufacture, assembly of vehicles and auto components to the sale of finished products and service support. In total, the KAMAZ group of companies includes more than 100 organizations in assembly production abroad (Kazakhstan, Vietnam, Azerbaijan, Iran and Pakistan).

Financial performance

Main article: Financial performance of KamAZ

Information Technology

Main article: Information technologies in KamAZ

History

2025

Creation of a joint venture for the development of industrial robots together with Element Group of Companies and Eidos Robotics JSC

Element Group of Companies, KamAZ PJSC and Eidos Robotics JSC signed a tripartite cooperation agreement to create a Center for the Development of Robotization of the Automotive Industry. The agreement was signed on July 8, 2025 in Yekaterinburg. Read more here

KamAZ became a co-owner of car manufacturer Aurus

On February 10, 2025, it became known that KamAZ acquired a 0.5 percent stake in the Russian manufacturer of executive class and luxury cars Aurus. There is no information on the value of the transaction as of the specified date. Read more here.

2024

The son of the first deputy general director of Rostec Dmitry Artyakov became the owner of a stake in KamAZ. It was estimated at 3.1 billion rubles

On October 21, 2024, it became known that Dmitry Artyakov, the son of Vladimir Artyakov, the first deputy general director of Rostec, the ex-president of AvtoVAZ and the former head of the Samara region, became the owner of a stake in KamAZ. The acquired asset is estimated at more than 3 billion rubles.

The deal was reported by the Kommersant newspaper. We are talking about the purchase by Dmitry Artyakov of 15% in the structure of Avtoinvest LLC. The seller was businessman Ruben Vardanyan, founder of the Troika Dialog investment company. After the transaction, Vardanyan completely left Avtoinvest.

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Фото: kamaz.ru

At the same time, Avtoinvest LLC is listed among the shareholders of KamAZ with a share of 23.54% (according to data available as of October 2024). Thus, the indirect share that Artyakov received at KamAZ can be estimated at 3.53%. Based on the capitalization of this enterprise on the Moscow Exchange on October 18, 2024 at 88.19 billion rubles, the cost of this package may be 3.11 billion rubles. Another 50% of Avtoinvest is owned by the ex-owner of the Stupinsky Titanium Company Nikolai Timokhin, 35% - the general director of KamAZ Sergey Kogogin.

Investment banker Ilya Shumov notes that on July 1, 2024, Vardanyan sold 5% in Avtoinvest to Kogogin through Kew Capital. Shumov believes that Vardanyan's withdrawal from Avtoinvest's capital may be connected with the arrest of a businessman: on September 27, 2023, the State Border Service of Azerbaijan detained Vardanyan while trying to leave Nagorno-Karabakh and enter Armenia. Vladimir Bespalov from Euler Analytical Technologies notes that the deal to sell a stake in Avtoinvest can hardly affect the activities or prospects of KamAZ, since "the main shareholders and management remain the same, continuing to implement the planned program for the development of the company."^[1]

Daimler sold its 15% stake in KamAZ

Daimler sold its 15% stake in KamAZ. This was announced in mid-April 2024 by the general director of the Russian company Sergei Kogogin.

Formally, they completed the process of termination of participation in the capital of KamAZ, as far as we know, this year. Their further plans for our company are not known. For us, it is much more important that the termination of relations with European partners, which, of course, changed our product, did not affect our ability to produce commercial equipment and develop our lineup, "he said in a conversation with Vedomosti[2]

AFK Sistema and KamAZ began to jointly create hydrogen transport

In February 2024, KamAZ and AFK Sistema signed an agreement on cooperation in the development of hydrogen technologies.

According to the press service of KamAZ, the partnership with AFK Sistema is aimed at combining and coordinating efforts in creating serial products using hydrogen, including a truck, warehouse equipment, an electric water bus, mobile hydrogen gas stations and electrolyzers. Also, within the framework of the agreement, the companies plan to interact with educational institutions for training personnel in the field of hydrogen technologies and electric transport.

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Фото: KamAZ

Olga Nasikovskaya, head of the strategic consulting group at Kasatkin Consulting, in a conversation with RBC Tatarstan, suggested that the timing of the implementation of this program would be relatively tight, taking into account the policy of import substitution and the development of its own production. If there is support from the state (a decree on the mandatory transition to hydrogen transport of allocated companies, subsidizing the purchase of such transport), then the introduction of hydrogen commercial transport can be carried out as early as 2025.

AFK Sistema began the development of the hydrogen direction from 2022 and by February 2024 has two research and development centers: the Center for Hydrogen Technologies and the Center for Hydrogen Energy, which cooperates with the Russian Academy of power. In addition, AFK's portfolio company, Sitronics Group, is involved in the development of hydrogen vehicles, namely its division engaged in the development of electro-ships Emmium.

KamAZ, in turn, began developing hydrogen transport in early 2021. In particular, at the Comtrans-2021 exhibition, the company presented its first KamAZ-6290 hydrogen bus and a prototype of a 44-ton truck with a hydrogen fuel cell system.^[3]

2023

AvtoVAZ withdrew from the capital of the largest manufacturer of auto components in Russia

In mid-July 2023, it became known about the withdrawal of AvtoVAZ from the capital of the United Automobile Technologies (OAT) group. As part of the deal, KamAZ is transferring 40% of the largest manufacturer of original spare parts and components for the automotive industry in the Russian Federation. Read more here.

The share of EDB in KamAZ passed to the Russians

On January 18, 2023, it became known about the withdrawal of the Eurasian Development Bank (EDB) from the authorized capital of KamAZ. As part of the transaction, a 3.72 percent share of the Russian truck manufacturer was transferred to its subsidiary, KamAZ Financial Leasing Company LLC. The bank acquired these shares as part of financing the project for the development of the Kamaz model range.

According to Interfax, the deal took place on July 12, 2022. On that day, KamAZ shares on the Moscow Exchange were trading at 89.8 rubles per share. The size of the transaction could be about 2.36 billion rubles, the agency reports. At the same time, in 2018, when the EDB entered the authorized capital of KamAZ, 3.72% of the shares were worth 1.52 billion rubles.

KamAZ reported that as a result of the agreement they will receive a new partner for the implementation of investment projects. The EDB also said that they transferred 9.5 billion rubles to KamAZ as financing.

When implementing this transaction, the EDB used equity and bond financing instruments, thereby allowing KAMAZ PJSC to form an optimal structure for raising funds, the bank noted immediately after the acquisition of the company's shares.

EDB released the number of KamAZ shareholders a few months after the Russian company fell under the sanctions of the EU countries, the USA, Great Britain, Australia, Canada, New Zealand and Switzerland due to a special military operation in Ukraine.^[4]

Exit from the projects of cast iron casting plants and auto components in Kazakhstan

KamAZ withdrew from the projects of cast iron casting plants and auto components in Kazakhstan. This became known in mid-January 2023. Read more here.

Obtaining 100% SP with Daimler

KamAZ became the sole owner of a joint venture with Daimler. This became known in mid-January 2023. Read more here.

2022

Establishment of Passenger Car Division

On December 1, 2022, it became known about the creation of a passenger car division in KamAZ. According to the CEO of the company Sergey Kogogin, this will be a new business for the automaker.

But, relatively speaking, it is unlikely to be consolidation, "he said.

Sergei Kogogin did not specify any details on the possible models that the new direction will produce. However, he clarified that the passenger business will affect the financial results of KamAZ.

KamAZ specializes in the production of trucks with a gross weight of 14-40 tons and by the beginning of December 2022 is not engaged in the production of cars. At the same time, the company participates in the implementation of two discussed projects in the passenger car industry. In the spring of 2022, the company also became a technical partner of the Moskvich plant, which previously belonged to Renault. In October 2022, KamAZ bought a 51% stake in the joint venture ZF Kama LLC from the German manufacturer ZF Friedrichshafen AG.

Earlier, the head of the KamAZ press service, Oleg Afanasyev, said that the development of a passenger electric car is no more than one of the areas of research activities of companies, among which the most important and paramount for development in the field of freight and passenger electric vehicles.

In addition, the media reported that KamAZ, together with the Center for Computer Engineering of St. Petersburg Polytechnic University Peter the Great, are working on a city electric car. It was argued that such a car could go into series in a few years.^[5]

Consolidation of 100% JV with German ZF

KamAZ became the sole owner of ZF Kama LLC, a joint venture (JV) of the Russian automaker with the German company ZF Friedrichshafen AG. The latter owned 51% of the joint venture. The terms of the transaction were not disclosed. The fact that KamAZ bought out a stake in ZF Kama LLC from ZF Friedrichshafen AG was written by Kommersant on November 10, 2022, citing the press service of the Naberezhnochelninskaya company. Information about the change of owners appeared in the Unified State Register of Legal Entities. Read more here.

Uganda Plant Construction Arrangement

KamAZ agreed to build a plant in Uganda. The company will manufacture trucks for export to the African market. Ugandan Ambassador to Russia Moses Kizige told RIA Novosti about this in mid-October 2022.

We are also open to cooperation with Russian carmakers. For example, we recently entered into an agreement with KAMAZ to build a truck factory in Uganda to sell them in the African market, "Kizige said.

Diplomat in mid-October 2022. added that Uganda had recently started producing its own electric vehicles. According to him, the country plans to export them, including to Russia.

KamAZ noted that the company is interested in and actively develops cooperation with African countries, so it is ready to discuss all types of cooperation in the interests of the Russian state.

KamAZ is the largest truck manufacturer in Russia. By October 2022, the company has assembly facilities in Vietnam, Kazakhstan, Pakistan and India.

Earlier, KamAZ began supplying trucks to South Africa. This was preceded by the joint work of the KamAZ Foreign Trade Company and the company's Scientific and Technical Center for the development and certification of right-hand drive vehicles of tropical equipment that meet the requirements of the Republic of South Africa. In total, four models (five sets) of KAMAZ dump trucks with a restyled cabin were developed and certified. Among them - KAMAZ-65115-97 with a body of 10 cubic meters, KAMAZ-6520-63 with a body of 12 cubic meters, KAMAZ-65201-63 with a body of 16 cubic meters and KAMAZ-65222-63 with bodies of 12 cubic meters and 16 cubic meters.

In addition, KamAZ planned to organize a spare parts warehouse in South Africa on the basis of the BELL Equipment logistics center and organize assembly production in South Africa at the production facilities of the official distributor.^[6]

China's Weichai Power suspends gas engine deliveries

In August 2022, the Chinese Weichai Power suspended the supply of gas engines for Kamaz. This was due to the position of the PRC authorities, which warned the corporation against working with sanctioned companies from Russia.

Plan for the creation of a center for the development of environmentally friendly and economical engines based on UrFU

Director of the Engineering Center for Digital Technologies of Mechanical Engineering (ICTM UrFU) Maxim Sapogov, Rector of the Ural Federal University Viktor Koksharov and First Vice-Rector of UrFU Sergey Kortov held talks with the General Director of KAMAZ Sergei Kogogin. This was announced on July 7, 2022 by the UrFU. Read more here.

Redemption from a German company of a stake in a joint venture for the production of brakes

As it became known at the end of June 2022 , KamAZ bought out a share in a joint venture (JV) for the production of brake systems for trucks from the German company Knorr-Bremse. Previously, partners owned 50% each in Knorr Bremze Kama LLC. Read more here.

Difficulties with release due to stopping the supply of components against the background of Russia's special operation in Ukraine

Daimler Truck suspends cooperation with Kamaz amid special operation in Ukraine

On February 28, 2022, Daimler Truck announced that it was suspending all cooperation with Kamaz amid a special operation by the Russian Armed Forces in Ukraine, the German newspaper Handelsblatt reported, citing company representatives.

2021: AvtoVAZ bought 40% of United Automotive Technologies from KamAZ

On November 1, 2021, it was announced that AvtoVAZ bought 40% of the United Automobile Technologies (OAT) from KamAZ. Read more here.

2020

Opening of Ak Bars Bank credit line for 5.5 billion rubles. for the supply of automotive equipment

On December 7, 2020, Ak Bars Bank announced that it had opened a credit line for PJSC KamAZ for 5.5 billion rubles for the supply of automotive equipment. A loan at 0% was provided as part of the program to support automakers.

"Thanks to the preferential program, we plan to increase the volume of equipment supplied and expand the technological capabilities of the plant. In the current conditions of turbulence in the market, the program of support for automakers will help the development of the industry, economies the region and the country as a whole. We have long-standing partnerships with Ak Bars Bank and it is important for us as a business that bank ensures the access Tatarstan of enterprises to all preferential federal state programs, "said Andrey Maksimov, Deputy General Director, KamAZ PJSC. CFO

The credit line is open until December 2022.

Ak Bars Bank was among the first to conclude an agreement with the Ministry of Industry and Trade of the Russian Federation to issue a preferential loan to suppliers of automotive equipment to procurement participants in 44-FZ and 223-FZ. The program is implemented in accordance with the Decree of the Government of the Russian Federation of July 11, 2020 N 1035.

PJSC KamAZ controls 45% of the Russian heavy truck market and is included in the list of backbone organizations approved by the Government Commission for Economic Development and Integration. As of 2020, a total of 32.7 thousand people work in the technology chain group of PJSC KamAZ.

Opening of the "Ak Bars Bank" credit line in the amount of 3 billion rubles.

On May 20, 2020, Ak Bars Bank announced the opening of a credit line of PJSC KamAZ in the amount of 3 billion rubles to replenish working capital under the program to support backbone enterprises. The loan term is one year. At the same time, the bank is among the first began issuing soft loans to replenish working capital at a rate of no more than 5%.

The conditions of the program are reflected in the Decree of the Government of the Russian Federation of April 24, 2020 No. 582. Thus, enterprises can direct credit funds to labor, insurance premiums, rental of premises and equipment, repair of equipment, utilities, transport costs, etc.

2010: 52,000 employees

According to 2010 data, about 52 thousand people worked in the KamAZ group.

1979

Simbirin Efim Alexandrovich. Genus. 1923 People's Artist of the Tatar Autonomous Soviet Socialist Republic. Portrait of KamAZ installer Mazit Ibatullin. 1978-1979

Oil on canvas. 156 Х 121 Museum of Fine Arts of the Republic of Tatarstan. Kazan]]

1974

Valery Nikolaevich Skobeev. Genus. 1938 Honored Artist of the Tatar Autonomous Soviet Socialist Republic, laureate of the Komsomol Prize of Tataria named after M. Jalil. Seagulls over Kama. 19

Oil on canvas. 176 X 200. The picture is dedicated to the young builders of KamAZ. Among a number of other works, V.N. Skobeev was awarded the Komsomol Prize of the Tataria named after M. Jalil in 1976. Ministry of Culture of the RSFSR. Moscow. Later - the State Museum of Fine Arts of the Republic of Tatarstan.]]

1969

PJSC "KamAZ" was established in 1969 and is a manufacturer of heavy trucks and special equipment.

Notes