JSC AVTOVAZ announced the conclusion of a deal to acquire a stake in the authorized capital of LLC Nissan Manufacturing RUS. On February 7, 2023, the relevant documents were signed by AVTOVAZ President Maxim Sokolov and Director General of FSUE NAMI Fedor Nazarov.
As part of the agreements, JSC AVTOVAZ acquired a 99% interest in the authorized capital of LLC Nissan Manufacturing RUS at a price of 1 Euro with payment in the equivalent of the ruble at the exchange rate on the date of payment. The closed deal retains a call option for Nissan to buy back former assets in Russia for 6 years, if a corresponding decision is made and approved by the Government of the Russian Federation in the future,” AvtoVAZ said in a statement.
*This material was created by a person who has the status of a foreign agent in the Russian Federation.
As Deputy Minister of Industry and Trade of the Russian Federation Albert Karimov noted: “The AVTOVAZ team is faced with the task of not only launching the production of cars at the St. Petersburg site, but also ensuring a confident increase in the level of localization of products manufactured there.”
Earlier, Maxim Sokolov announced plans for the production of cars at a plant in St. Petersburg: by 2025-2027. it is planned to produce up to 50-70 thousand cars per year.
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Source: AVTOVAZ