The Board of Directors of AVTOVAZ approved the main lines of the company’s development, which will form the basis of the updated “Development Strategy – 2030”.
The document was prepared in accordance with the state strategy for the development of the automotive industry, which was approved by the Government of the Russian Federation at the end of 2022.
*This material was created by a person who has the status of a foreign agent in the Russian Federation.
The overall objectives of the government’s strategy are to saturate the Russian market with highly localized cars, ensure technological sovereignty, increase the auto industry’s share of the country’s GDP, and develop exports.
In this regard, AVTOVAZ outlined 5 directions for its own development:
- occupy a dominant position in the Russian market;
- expanding the product line, including through the development of proprietary platforms;
- achieve technological sovereignty, especially in critical technologies and components;
- develop export sales and increase the number of markets where Lada is present, also with the help of local and global partners.
AVTOVAZ also strives to maintain the company’s profitability and achieve financial stability and expects to continue state and regional programs to support the automotive and related industries.
AVTOVAZ’s “Development Strategy – 2030” is expected to be approved in the fourth quarter of 2023.
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Source: AVTOVAZ