Since it starts in 1998 ,
TagAZ has acquired considerable experience in production of automobiles under foreign companies’ license (Daewoo, Citroen).
In 2000 TagAZ acquired Hyundai Motor Company (South Korea) as a strategic partner, who year by year gains more and more significance in the automobile society and whose products are recognized all over the world.
In April 2007 TagAZ started production of the Santa Fe Classic model, which presents the popular in Russia SUV-segment.
TagAZ's owner is Russian entrepreneur M. Y. Paramonov, CEO of the financial-industrial Doninvest group. One-fifth of TagAZ shares are held by Sapor Invest Inc., Ikaria International Technologies Aktiengesellschaft, Pemberton Establishment, Asha Holding, and Dl Technologies GmbH.
The construction of the Taganrog Automobile Factory started in spring 1997, under license and technology of South Korean concern Daewoo and was fully financed by Doninvest Finance & Industry Group with investment volumes of more than 260 million dollars. The newborn state of the art factory was commissioned in September 1998 when Doninvest launched the pilot CKD production of the Daewoo Lanos and Daewoo Nubira cars. The technology of automotive industry in Taganrog represents a sophisticated work package consisting of welding, painting of car bodies, assembly and finishing of the car.