The authorities are closely monitoring the situation with the Renault Group and will inform AVTOVAZ . help out

The Ministry of Industry and Trade of the Russian Federation is in constant contact with the management of AVTOVAZ and the Renault group after the French carmaker announced that it would suspend operations at its Moscow plant and explore possible options for its stake in AVTOVAZ. study. This is stated in a message on the portal of the agency. Recall that 68% of AVTOVAZ shares are owned by the Renault Group.

“All necessary measures are taken to ensure that all conveyor belts are able to function stably again as soon as possible. In particular, an agreement was reached that before the end of the corporate holiday (April 24), the purchasing and logistics services of AVTOVAZ JSC will make every effort to solve problems related to the creation of stocks of necessary components, ” the official statement from says the Ministry of Industry and Trade.

The agency will assist AvtoVAZ in loading capacities, launching new vehicle modifications, continuing the localization program and expediting import replacement. It will also monitor compliance with the company’s social obligations towards employees.

Like other major automakers, AVTOVAZ has access to state aid measures, including preferential loans for working capital replenishment, soft loans for the implementation of import substitution projects, a range of industrial subsidies, compensation for part of the transportation costs, R&D costs and much more.

About the future prospects of the plant Renault in Moscow, the Russian authorities will announce before the end of next week Until now, this issue is being discussed together with the city council.

AvtoVAZ also issued a statement today regarding the suspension of Renault’s activities in Russia. It says all possible measures have been taken in recent weeks to maintain the employment of a team of 40,800 employees. The company holiday has been postponed to April, during which time they will try to restore supply chains and replace some very important imported components with alternative ones. The company is committed to fulfilling its obligations to its employees, suppliers, dealers and partners throughout the Russian Federation and in export markets.

The company’s message, received by Za Rulem, also states that: special versions of some Lada models are in preparation, which will be less affected by imported components.

Collage: “Behind the wheel”

Source: Z R

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