Russian Yo Mobile Hybrid Company Sold to Gov’t for 1 Euro

When Russian billionaire Michael Prokhorov announced he’d begin building advanced CNG hybrids in Russia, we were skeptical. We became believers in the little Yo Mobiles, however, once the first cars made their debut as runners and the company, called Yo Auto, announced that they’d taken deposits on thousands of their pre-production cars- despite not a single production-ready car having been built (sound familiar?).

Despite so much promise and so much genuinely intriguing technology at play, it seems like Prokhorov has given up on Yo Auto after selling the company’s assets to Russian government-controlled NAMI institute for just 1 Euro. “(Since 2010, the) parameters of the project have changed, its cost could reach up to 450 million euro”, says Valery Senko- the director of Prokhorov’s ONEXIM investment group. “While some hundred million Euros had been already spent on research.”

The low-emission hybrid Yo Mobile models were set to begin production this year, and expected to reach customers early in 2015. No word yet on what will become of any customer deposits that were taken, or on the fate of Yo Auto’s advanced crossover concept (shown, above).

So- yeah. That sucks. What do you guys think? Are there any companies out there that you hope succeed, but that you know have the odds stacked against them? Let us know who they are in the comments, below. Enjoy!

Source | Photos: RT.

Russian Hybrid Car Backed Off Until 2015

Yo Auto has postponed the first Russian hybrid car, the Yo Mobil until 2015. The Yo Mobil is a Russian made hybrid vehicle with a reported sticker price of $10,000.

With such a low price it is no surprise that the Yo Mobil is being billed as the new “people’s car”. The car is the brainchild of Russian billionaire and ex-presidential candidate Mikhail Prokhorov and made by Yo-Auto; a Russian company that is a joint venture between truck maker Yarovit and Prokhorov’s Onexim investment group.

The Yo Mobil is expected to have a range of 248.5 miles (400 kilometers) and a maximum speed of 80 miles an hour (130 kilometers per hour). While the speed is not all that encouraging, the range is certainly up to current standards and you cannot argue with the price. From some demonstrations we’ve seen,the Yo Mobil also looks surprisingly sporty, and may even have a CNG engine option.

Here is thing catch; the Yo Mobil has been pushed off twice from its original plan for a 2012 release. The reasons for the delays are not clear but speculation is that Yo Auto simply has zero experience in the automotive business – in other words the car might be junk.

That being said, Yo Auto claims to have more than 200,000 people who have pre ordered the car since 2011. Impressive numbers, but it has also been reported that the company has been taking orders for the car 10 years in advance.

If the Yo Mobil will ever see the light of day is anyone’s guess. The car looks flashy and the specs, at least on paper, sound promising. If this hybrid does indeed make it into mass production and hit the U.S. shores it could be a game charger in the hybrid car market.

Source: rt.com