This was announced by the company recently changed hands from Renault to a Russian research institute
AvtoVaz production in Russia restarts. It was the same company to announce that the lines in which the best seller Lada Granta is also built will be reactivated on June 8th. Work had partially stalled in March due to a lack of electronic components due to Western sanctions against the country caused by the invasion of Ukraine.
renault in russia
—
AvtoVaz changed hands in May. Majority shareholder Renault sold its 67.69% stake to Nami, a Russian scientific institute, for the sum of one ruble and with the option to buy back within six years of the agreement. Also in May, Renault sold all of Renault Russia to the city of Moscow, thus leaving the country. Lada’s market share in the Russian market is around 22% while the profits generated for the Losanga group in 2021 were around 10% of the total. In 2018, the latest data available, the number of AvtoVaz employees was over 36 thousand people. Losanga’s entry into the ownership of the Russian brand took place in 2008 with a 25% stake, equivalent to over one billion dollars, which has grown over time to exceed 67%.