Photo: Nissan
AvtoVAZ, Renault's former division that produces Lada models, will operate Nissan's St. Petersburg plant after Nissan sold its Russian operations to state-owned Russian company NAMI.
AvtoVAZ, Russia's largest carmaker and owner of the Lada brand, is trying to revive car production, which has been hit hard by EU sanctions due to Russia's aggression against Ukraine.
This automaker will also operate the Nissan plant in St. Petersburg and plans to restart production in 2023, the RIA Novosti agency reported, citing Deputy Prime Minister and head of the Russian Ministry of Industry and Trade Denis Manturov.
AvtoVAZ is now a 100% state-owned company after Renault, Nissan's partner, sold its 67.69% majority stake in AvtoVAZ to Russia's central engine research and development institute NAMI in May 2022 for a symbolic 1 ruble.
NAMI also bought 100% of the shares in Renault's Avtoframos plant in Moscow, where Moscow Mayor Sergei Sobyanin decided to revive the Moskvich brand that disappeared 20 years ago and produce new models there.
Avtoframos used to produce Renault Logan, Renault Duster, Renault Kaptur, a 20 cm (7.87 inches) longer Captur for Russia, and Renault Arkana.
Following Russia's war in Ukraine, Nissan left Russia in October when it sold the St. Petersburg plant and the sales and marketing center in Moscow to the NAMI institute, also for the symbolic sum of 1 ruble ($0.016).
In both transactions, Renault and Nissan left a loophole open, and if the situation normalizes, the two companies can return within six years and buy back their investments in Russia for 1 ruble ($0.016).
Renault's assets in Russia were 2.195 billion euros ($2.257 billion), and Nissan's 652.65 million euros ($687 million).
Nissan has been active in the Russian market since 2004, and in 2009 it opened a plant in St Petersburg where it produced the X-Trail, Qashqai, and Murano models.
Avtovaz has yet to give details of what models it will produce in the former Nissan factory. However, the Russians restarted production on June 8, 2022, at the giant Togliatti plant, with the Lada Granta Classic model, which only meets the Euro 2 Norm and lacks ABS, ESP, navigation, and assistance systems due to the shortage of components caused by sanctions imposed by the European Union.
This automaker will also operate the Nissan plant in St. Petersburg and plans to restart production in 2023, the RIA Novosti agency reported, citing Deputy Prime Minister and head of the Russian Ministry of Industry and Trade Denis Manturov.
AvtoVAZ is now a 100% state-owned company after Renault, Nissan's partner, sold its 67.69% majority stake in AvtoVAZ to Russia's central engine research and development institute NAMI in May 2022 for a symbolic 1 ruble.
NAMI also bought 100% of the shares in Renault's Avtoframos plant in Moscow, where Moscow Mayor Sergei Sobyanin decided to revive the Moskvich brand that disappeared 20 years ago and produce new models there.
Avtoframos used to produce Renault Logan, Renault Duster, Renault Kaptur, a 20 cm (7.87 inches) longer Captur for Russia, and Renault Arkana.
Following Russia's war in Ukraine, Nissan left Russia in October when it sold the St. Petersburg plant and the sales and marketing center in Moscow to the NAMI institute, also for the symbolic sum of 1 ruble ($0.016).
In both transactions, Renault and Nissan left a loophole open, and if the situation normalizes, the two companies can return within six years and buy back their investments in Russia for 1 ruble ($0.016).
Renault's assets in Russia were 2.195 billion euros ($2.257 billion), and Nissan's 652.65 million euros ($687 million).
Nissan has been active in the Russian market since 2004, and in 2009 it opened a plant in St Petersburg where it produced the X-Trail, Qashqai, and Murano models.
Avtovaz has yet to give details of what models it will produce in the former Nissan factory. However, the Russians restarted production on June 8, 2022, at the giant Togliatti plant, with the Lada Granta Classic model, which only meets the Euro 2 Norm and lacks ABS, ESP, navigation, and assistance systems due to the shortage of components caused by sanctions imposed by the European Union.
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