Russia's Yo-Auto plant will offer its first Yo-mobile hybrid cars for sale in December 2012, the company's co-owner, billionaire Mikhail Prokhorov, told Rossiya 24 television on Tuesday.
"The Yo-mobile will be (for sale) in December next year as we promised," Prokhorov said.
Prokhorov has said he wants to make a unique eco-friendly hybrid car that would cost less than $10,000.
Prokhorov who has registered as a candidate to challenge Prime Minister Vladimir Putin in the 2012 presidential elections said he would carry through all his business projects, despite his decision to enter politics.
"I have a very strong team and a highly-skilled and professional staff and all the projects I announced in business will be implemented in full," he said.
The annual production capacity of the first Yo-mobile plant near St. Petersburg is estimated at 45,000 cars. Capacity will be doubled after a second stage of the plant is built.