Mikhail Prokhorov, also known as the Richest Man in Russia and hopeful new owner of the New Jersey Nets NBA franchise, is reportedly planning to launch a new city car through his Onexim Group.

Prokhorov's investment, a mere €150 million ($201 million U.S. at the current exchange rate), will supposedly fund construction of the facility and production of the the hybrid vehicles.

Russian billionaire Mikhail Prokhorov lost 53 million US dollars deposit on a 530 million USD villa in southern France after a court ruled Tuesday that he failed to complete the purchase. The ...

1 / 12Nets Owner Mikhail Prokhorov demonstrates a sampling of Tescao drills for the team. 1 / 12Nets Owner Mikhail Prokhorov demonstrates a sampling of Tescao drills for the team. 1 / 12 If you ...

MOSCOW, November 28. /TASS/. Russian businessman Mikhail Prokhorov, former president of the Russian Biathlon Union, has said he is prepared to initiate court proceedings against the former chief ...

Brooklyn Nets owner Mikhail Prokhorov spoke with the media prior to the Nets game against the Oklahoma City Thunder and the topic of former Brooklyn head coach Jason Kidd came to the forefront of ...

Carrying its progenitor, billionaire Mikhail Prokhorov, as he moved about the former Imperial capital of Russia for the St. Petersburg economic forum, it seems the first Yo-mobil will be an ё ...

MOSCOW, April 16. /TASS, Andrey Kartashov/. Russian tycoon Mikhail Prokhorov told TASS he "was happy" about how the deal to sell a 49% stake in the National Basketball Association (NBA ...

Mikhail Prokhorov's Onexim Group, which first announced the Yo-hybrid line of vehicles in 2010, is walking away from the effort. Onexim is selling the company to the state-owned Nami Institute for ...

Yo-Auto, the Mikhail Prokhorov-owned automaker that's been making plans to build the first Russia-made hybrid car, will scale down production of its Yo-Mobile to less than half of its previous ...

Sources tell ESPN.com that Nets owner Mikhail Prokhorov has expressed to at least one interested party that he is willing to give up majority control of the Brooklyn Nets for the right price.