Russia’s Avtotor will create a venture with Magna International Inc. (MG) to assemble as many as 350,000 cars in Russia, Kommersant reported, without saying where it got the information.

Magna will buy 60 percent of the venture for 1 million euros ($1.3 million), Kommersant said.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net