1. 1929: Soviet Union signs agreement with Ford Motor Company
Photo: nvrg
Photo: source
On this day in 1929 the Soviet Union signs and agreement with Ford Motor Company worth and estimated $30 million over the course of nine years. The USSR had been struggling in the automotive world making only 20,000 cars in 1928 and maybe more importantly, only one truck factory so they were very quick to get Fords help. The deal wold allow Ford to oversee the the construction of a new factory that would produce Model A’s located on the banks of the Volga River as well as a plant in Moscow that would be start work immediately upon signing the deal. To get Henry Ford and company to come to the aid of the communist country they had to agree to the purchase of 72,000 unfinished Ford cars and trucks, as well as all the spare parts that come with em.
