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AK-47 maker is now also manufacturing electric cars

Posted at 11:42 AM, Aug 25, 2018
and last updated 2018-08-25 11:42:22-04

MOSCOW, Russia (CNN) — The producer of the AK-47 automatic weapon this weekend has unveiled an electric concept vehicle at a Russian arms show called Army 2018.

The company said in a statement that its CV-1 can travel as far as 350 kilometers (217 miles) on a single charge, and accelerate from 0 to 100 kilometers per hour in six seconds. The concept’s retro design is based on a popular Soviet-era hatchback.

Kalashnikov told Russian state news agency RIA Novosti that the CV-1 would allow it to compete with electric carmakerssuch as Tesla (TSLA). It did not say whether the car would enter production, or provide a price.

The company did not respond to a request for more details.

While Kalashnikov already makes some military vehicles, analysts are skeptical about its chances of producing a successful electric car.

Tim Urquhart, principal analyst at market research firm IHS Automotive, described the design of the CV-1 as “pretty brave” and said it “would only appeal to a limited number of buyers.”

The market for electric cars is expected to boom over the next few decades, and a number of companies are seeking to supplant established automakers. One example is vacuum producer Dyson, which has invested heavily in electric vehicles.