May 28, 2022

Renault: towards a takeover of Lada by a Russian state scientific institute

Posted Apr 27, 2022, 12:41 PMUpdated on Apr 27, 2022, 2:52 PM

Renault’s retreat from Russia is becoming clearer. A month after announcing the “suspension of its industrial activity” in the country, and the evaluation of “all its possible options concerning its participation in Avtovaz”, the Losange should finally sell its assets in Russia to a specialized Russian state scientific institute. in the automobile sector, the NAMI, with the possibility of buying them back for a few years. Both its 68% stake in AvtoVAZ (which produces Ladas) and its Moscow plant (which produces Renault Capturs and Dacia Dusters) are affected.

It was the Russian Minister of Industry and Trade, Denis Manturov, who spilled the beans. “Among those who are discussing with us their departure, there is Renault, for the moment,” he said on Wednesday. “For lack of funds to maintain its activities in Russia, Renault has decided to sell the shares of AvtoVAZ and Avtoframos [son usine de Moscou, NDLR]. As for AvtoVAZ, it will most likely be NAMI, our specialized institute, which will take over the actions, with a possible return if colleagues decide to return. »

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