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The prosecutor’s office of the Samara region reports that a criminal case has been opened against the Togliatti-based Zetta LLC for fraud on an especially large scale. A prosecutor’s investigation was carried out, during which it turned out that the company had stolen budget funds allocated for research and development work. The startup entered into an agreement with the Ministry of Industry and Trade and received a subsidy from the state in the amount of 284 million rubles, but did not fulfill the conditions within the established time frame.

Things are really bad for Zetta. The ambitious project of the “first Russian electric car” failed: they promised to start production of the cars back in 2020, but in the same year the work was frozen due to lack of funding – at that time 570 million rubles had already been invested, and another 100 million were required to start assembly . Later, development resumed, but the Zetta electric car never went into production. Only five images were released, after which the project was finally cancelled.

In Russia, the bankrupt electric car startup Zetta is selling off its property. The fate of the Russian electric car Zetta has been revealed. The E-Neva electric car, which is called the Russian Tesla, will be tested in Altai.

At the beginning of April 2024, it became known that the building in Tolyatti, owned by Zetta LLC, was sold, as was the equipment. Now new information has appeared: following the results of the prosecutor’s investigation, a criminal case has been opened for fraud on an especially large scale with budgetary funds. We are talking about theft in the amount of more than 1 million rubles.

It was established that a subsidy in the amount of more than 284 million rubles was received from the federal budget to the bank account of Zetta from December 2017 to December 2019, but the company did not fulfill the terms of the agreement with the Ministry of Industry and Trade within the specified time frame. The volume of work completed ranged from 21 to 47 percent.

As Interfax reports with reference to data from the Unified State Register of Legal Entities, 25 percent of the authorized capital of Zetta belongs to Tolyatti entrepreneur Waldemar Wagner, and another 75 percent belongs to Denis Shchurovsky, who was the general director of the company from September 2016 to March 2022.

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