When you think about the production of electric hybrid vehicles, the country that springs foremost to your mind isn’t likely to be Russia. But that's set to change, with news Russian automobile manufacturer YAROVIT Motors and financial company Onexim Group are teaming up to produce what will be the country’s first electric hybrid vehicle, to be known as the E-mobile (or Yo). 

It’s been reported that NZ$259 million is being invested in the construction of a production assembly plant for the car. But when the head of Onexim Group is Mikhail Prokhorov, money isn’t such an issue. As the thirty ninth richest man in the world heading, Prokhorov also happens to own basketball team, the New Jersey Nets. 

And while the investment numbers are high, it is expected the retail price of the finished product won’t bee too steep, costing about NZ$18,000. All going well, the car should be on the market by mid-2012.

If the move to hybrid is still surprising, Prokhorov has a reminder for you. At a media event to unveil the plans, as reported in the New York Times, Prokhorov says: “Don’t forget that in Russia we were the first to put man in space. Unfortunately, in the last 50 years, we are playing from behind a little bit.

“To invest from scratch is very important,” says Prokhorov. “It’s a totally new concept. All the old-fashioned car producers, they are linked with old technology.”

As for the cars credentials, the E-mobile will have a fuel efficiency of 107 kms per 3.7 litres, is backed by a top speed of 130 km/hr, and will run on a combined electric and gas engine.

And not content with just the car, Prokhorov reportedly has plans to expand the hybrid line to include a mini-van and cargo van. In fact, if the first video below is anything to go by, the electric motor might even have the potential to be used in planes, trucks and boats. 

To check out other stories on Celsias :

Electric Vehicle Market Poised for Rapid Growth

Wind Energy Blows Through Economic Downturn

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