Motorinvest

Performance indicators

2024: Revenue reduction by 16.8% to RUB 24.8 billion

As TAdviser found out in early August 2025, the Russian manufacturer of electric vehicles Motorinvest in 2024 received revenue of 24.77 billion rubles. This is 16.8% less than the previous year, when the figure was 29.77 billion rubles.

The cost of sales on an annualized basis decreased by 11.3% - from 23.97 billion rubles to 21.25 billion rubles. Commercial expenses decreased from 1.9 billion rubles to 1.75 billion rubles, that is, by 7.8%. At the same time, management expenses increased by 36.3% - from 286.29 million rubles to 390.09 million rubles. Other revenues soared almost six times - from 823.32 million rubles to 4.76 billion rubles. Other expenses rose by 52.8%, amounting to 3.66 billion rubles against 2.39 billion rubles in 2023.

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Фото: "Motorinvest"

Revenues from the sale of products, goods, works and services year-on-year decreased by 14.4% - from 24.13 billion rubles to 20.67 billion rubles. Payments to suppliers (contractors) for raw materials, materials, works and services decreased by about a third - from 21.68 billion rubles to 14.28 billion rubles. The costs in connection with the remuneration of workers rose almost one and a half times - from 281.21 million rubles to 414.7 million rubles.

Gross profit of Motorinvest in 2024 amounted to 3.52 billion rubles: this is 39.4% less compared to the previous year, when the company received 5.8 billion rubles. Profit from sales fell by 62% - from 3.61 billion rubles to 1.37 billion rubles. Net profit collapsed from 720.52 million rubles to 6.53 million rubles, that is, by 99.1%.

As of December 31, 2024, receivables were indicated in the amount of 11.59 billion rubles against 7.31 billion rubles a year earlier, which corresponds to an increase of 58.6%. Accounts payable jumped by 140.8% - from 4.68 billion rubles to 11.28 billion rubles.^[1]

2023: Evolute electric vehicle sales calculated - 2020 units

In 2023, sales of Evolute electric vehicles, which are manufactured by Motorinvest, reached 2020 units, including 225 cars sold in December. The manufacturer published such data on January 17, 2024.

In total, according to Avtostat, at the end of 2023, 14,089 new electric vehicles were sold in Russia - 4.7 times more than a year earlier. Motorinvest said in a press release that in 2023 the company took first place in terms of market share among all electric vehicles and hybrids, both officially presented in Russia and privately imported. The Lipetsk manufacturer estimated its market share for 2023 at 27.4%.

Evolute electric vehicle sales reach 2,020

At the end of December 2023, Motorinvest announced the start of pre-orders for a brand novelty - the assembly of a sports crossover i-Jet began at the enterprise's Lipetsk plant. Built on the basis of the Chinese car, the Seres SF5 will be equipped with a 646 horsepower power plant that allows you to accelerate to 100 km per hour in 3.7 seconds, and a battery that allows you to travel up to 530 km.

By the end of December 2023, the Motorinvest plant produced Evolute i-Pro, i-Joy, i-Sky, i-Jet and i-Van cars. Sales of the roomy i-Van electric van, the premium sports e-SUV i-Jet, as well as the first hybrid model of the brand - the seven-seater i-Space crossover, will soon start, according to a statement published by the company on January 17, 2024.

At the end of January 2023, the managing partner of Motorinvest, Andrei Reznikov, announced the company's intentions to sell more than 6 thousand Evolute electric vehicles in 2023. Plans for 2024 and 2025. assumed sales of 12 thousand and 15-18 thousand electric cars, respectively. Within five years, the manufacturer plans to reach the market volumes of 20-25 thousand electric vehicles, Reznikov said at the beginning of 2023.^[2]

History

2025: ₽1 billion investment on automation

The Russian company Motorinvest has invested about ₽1 billion in modernizing the production of electric vehicles and hybrid cars of the Evolute and Voyah brands. The funds were aimed at introducing automated welding and painting lines for bodies, as well as the reconstruction of production workshops. Andrey Reznikov, Managing Partner of Motorinvest, noted that the investments made it possible to significantly increase the level of automation of the enterprise. This became known in July 2025.

According to Kommersant, the reconstruction of the painting workshop was carried out in connection with the changed dimensions of the produced models. Andrei Reznikov stressed that the company adds welding and painting processes to existing production cycles. The upgrade also included increased automation of paint production.

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Фото: Evolute

In addition to the Evolute i-SPACE model, it is planned to supply Voyah cars to automated welding and painting lines at the end of the fourth quarter of 2025. The first model produced on the new technological cycle will be Voyah Free. The full transition of all Evolute and Voyah models to welding, painting and small assembly cycles is scheduled no later than the first quarter of 2026.

The production capacity of the paint shop is approximately 100 thousand cars per year. Andrei Reznikov said that the created production facilities will be enough for the company for the next three to five years of operation without additional capital investments in expanding production.

The head of special projects of the company Vasily Chebotarev earlier in 2025 explained that the transition from large-node to small-node assembly implies a deep integration of local production processes.

By mid-2025, the plant is testing geared motors and drive systems of Russian development. Batteries from the domestic EPSS company are also being tested, which should reduce the company's dependence on imported supplies of components.

Motorinvest plans to reach 5,000 localization points by 2032 - a metric that reflects the share of domestic components in the final product. This indicator will become an important indicator of the success of the import substitution program in the automotive industry.^[3]

2022: Assistance in the production of electric vehicles from the Government of the Russian Federation

On January 17, 2022, it became known about the completion of the competition held by the Ministry of Industry and Trade for the conclusion of a special investment contract (SPIK) for the production of electric vehicles. In total, two applications were submitted - from Motorinvest LLC (Lipetsk Region) and Electric Vehicles Manufacturing Rus LLC (St. Petersburg). Read more here.

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