Avtovaz Came Under The Control Of Renault-Nissan

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    AvtoVAZ came under the control of Renault-Nissan
      The deal was completed on June 18. Alliance control will not affect the production plans of the Volga auto giant. 

    Alliance Rostec Auto BV, created by Renault s. a. s.

    and GKRostecafter the completion of the transaction became the owner of 74.51% of the capital of the OJSCAvtoVAZ. . This joint venture owns 81.4% of common and 47% of preferred shares, the newspaper reportsVedomostiwith reference to Renault-Nissan President Carlos Ghosn.

    At the moment Renault's share in the joint venture is 50.1%, Nissan's share is 17.03%, and the share of GCRostec- 32.87%. The share of the Renault-Nissan alliance in the capital of AvtoVAZ is 50.

    01%, and the shareRostec- 24.5%. General Director of the Group of CompaniesRostecSergey Chemezov announced his intention in 2021 to liquidate the joint venture with the alliance and go over to direct ownership of sharesAvtoVAZ. .

    Carlos Ghosn said that AvtoVAZ's production plans will not be changed.

    In the next three years, the plant in Togliatti is to start producing about 1 million cars a year, 70% of which are Lada, the rest are alliance brands.


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