Ё (Yo) electric car

Mikhail Prokhorov and Valentina Matviyenko at a ceremony to mark the start of construction of the factory that will build the Ё (Yo) electric car. Mikhail Prokhorov saying: "The first difference is the concept of this car. It's a people's car not just because of its price but the very idea of it. In order to compete with the big western companies we've adopted a new technology, we got it by 'crowdsourcing'. We give a clear brief and our brilliant technicians come up with a solution. There are more than 20 innovations which our talented engineers have come up with. It's very important because in order to compete with the big companies you don't necessarily have to spend tens of billions of dollars, it's enough to open up our people's potential." Valentina Matviyenko saying: "I like the idea, I like the design. I like the fact that the hybrid car will be an ecologically and economically effective car. I'm really pleasantly impressed. Until today there hasn't been a car of this kind, a people's car for a reasonable budget, beautifully designed. We've got a young city - every tenth person is a student - I think young people will want this car."