Sberbank and AvtoVAZ have agreed to deepen their partnership in digitalizing production. The collaboration centers on embedding advanced artificial intelligence driven developments from Sberbank into AvtoVAZ vehicles and operations. In addition, Sberbank will take part in an investment initiative aimed at developing and manufacturing a new passenger car model. The agreement emerged from a working meeting in Tolyatti between Alexander Vedyakhin, First Deputy Chairman of the Board of Directors at Sberbank, and Maxim Sokolov, President of AvtoVAZ.
Both companies highlighted a long-standing relationship in finance-related services, including lending, factoring, and cash management, with AvtoVAZ also taking part in the bank’s salary project. Sberbank emphasized its role in supporting production enhancements, introducing innovations across the enterprise, and reinforcing the bank’s social mission through its financial and technology capabilities.
Vedyakhin described the meeting as a step toward crafting a tailored suite of products and services that AvtoVAZ needs to sustain efficient operations and future growth. The aim is to leverage Sber’s expertise in digitalizing business processes, machine learning, and AI technologies to streamline production and drive competitive advantages in the automotive sector.
He also noted that Sber is prepared to integrate partner-company solutions into the multimedia system of Lada vehicles. The bank’s technical specialists would offer guidance on applying industrial IoT technologies for production visualization and equipment monitoring. With Lada being a staple in the country, the collaboration is positioned as a catalyst for sustaining demand and advancing the scope of connected car capabilities through joint efforts with Sber.
Maxim Sokolov, AvtoVAZ President, extended appreciation for the bank’s enduring support and financing of new initiatives. He commented that Sber, regarded as a leader in IT and digital services, approached AvtoVAZ with a proposal to deploy its automotive telematics and related services innovations. The solutions presented are modern and promising, and AvtoVAZ plans to conduct a thorough assessment in the near term to determine their applicability and impact on product development and customer value.
The collaboration is seen as part of a broader strategy to expand cooperation between Sberbank and AvtoVAZ, with a formal agreement set to be finalized in the summer of 2023 at St. Petersburg. The arrangement followed discussions at the St. Petersburg International Economic Forum and reflects a shared commitment to integrating cutting-edge digital technologies into the automotive manufacturing process, from design and production to in-car experiences and after-sales services.