They may have lost seven in a row, but Mikhail Prokhorov's NBA team is still valuable to him. The unveiling of his new line of Russian hybrid cars, called the "Yo", received attention in part because he owns the Nets. The story even got a lot of play in the US media --including on ESPN and NBA.com-- because he's the Nets owner.
The Wall Street Journal compared the venture to his investment in the Nets, calling both, "seemingly impossible tasks".
The "Yo" line, which includes three models, will roll off an assembly line in Russia next year. Prokhorov is investing 150 million euros in the project., or about what he paid for the Nets. When his company, the Onexim Group, released its video of today's rollout, the musical accompaniment was the Beastie Boys' "No Sleep till Brooklyn". Synergy, baby, synergy.
- Prokhorov plans to sell new line of hybrid cars in 2012 - AP
- Russian Billionaire Ventures Into Hybrid Cars - Nadia Popova - Wall Street Journal
Russian Billionaire Introduces Line Of Hybrid Cars (Audio) - NPR
Russian Billionaire Unleashes Country's First Hybrid Vehicle - Ariel Schwartz - Fast Company