AvtoVAZ announced that it has signed an agreement to acquire Nissan’s Russian assets from FSUE NAMI. In this respect informs press service of the automaker.
“As part of the agreements, AvtoVAZ JSC purchased 99% of the authorized capital of Nissan Manufacturing Rus LLC for 1 Euro at the exchange rate on the payment date, with a payment in ruble equivalent. The concluded deal retains a call option for Nissan to buy back the old assets in Russia for 6 years.
According to AvtoVAZ President Maxim Sokolov, in the second half of 2023, it is planned to start production of C- and D-segment cars under the Lada brand at the former Nissan plant. The facility plans to localize these models in 2024-2027 and use the capabilities of more than 30 auto parts suppliers located in this region.
Earlier it was known that AvtoVAZ plans To produce about 10 thousand cars at a plant in St. Petersburg in 2023, and in the future to increase its production to 50-70 thousand per year.