Photo: Irmao do Decius
The Renault-Nissan Group already owns 25% of Autovaz and they plan to increase their influence by buying a majority stake. Their aim is to start producing 5 new models in Avtovaz’s modernized facility in Togliatti, while also phasing out the ‘classic Ladas and also refreshing the current range of more modern cars.
The terms of the agreement stipulates that Renault-Nissan and the state-owned Russian Technology will transform Autovaz into a joint venture that will which will acquire the company stake currently owned by a Russian investment company.
As the Renault-Nissan Group almost 900,000 units last year, this is a natural move that will further boost their power on the Russian market (3rd overall after China and the US), and thanks to Russia’s ever-increasing economic power, new car sales are bound to go up.
As the Renault-Nissan Group almost 900,000 units last year, this is a natural move that will further boost their power on the Russian market (3rd overall after China and the US), and thanks to Russia’s ever-increasing economic power, new car sales are bound to go up.
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