AvtoVAZ Board of Directors approved the main directions of the company’s development, reported in the automaker’s press service.
The first key direction was the occupation of a dominant position in the Russian market. The second is the expansion of the product line, including the development of our own platforms. In addition, AvtoVAZ considers it necessary to achieve technological dominance (primarily in critical technologies and components).
The company will also develop export sales and increase the number of markets where Lada is located, with the help of local and global partners. The fifth goal of AvtoVAZ was to maintain the profitability of the enterprise and ensure financial stability, including the “repayment of significant loan obligations” issued during the management of the company by the Renault-Nissan alliance.
These five points will form the basis of the automaker’s updated “Development Strategy – 2030”. The document is expected to be finalized in the fourth quarter of 2023. It is being developed to fulfill the state strategy for the development of the automotive industry, approved by the Russian government at the end of 2022.
Previously reportedThat AvtoVAZ has restarted sales of the Lada Niva Bronto SUV for 1.18 million rubles.