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MOSCOW, May 7. Rostec withdrew from the shareholders of AvtoVAZ, the press service of the state corporation reported.
«Yes, indeed, they left the capital,» Rostec said in response to a question.
The Lada Auto Holding JV was registered at the end of 2021, in fact, it was the transfer of the asset that controls AvtoVAZ to Russian jurisdiction. Prior to this, the company was controlled through the Dutch JV Alliance Rostec Auto B.V. It was owned by Rostec (32.3%) and Renault (67.7%).
After the start of the CBO, the French automaker decided to leave the Russian Federation: the share in AvtoVAZ was transferred to FSUE NAMI, and the plant in Moscow was transferred to the government of the capital. Thus, now FSUE «NAMI» has become 100% owner of «AvtoVAZ».
AvtoVAZ owns production sites in Tolyatti, Izhevsk and St. Petersburg. In mid-May last year, the French Renault transferred its stake in AvtoVAZ (67.69%) to the state property of the Russian Federation. Now the brand consists of four families of models: Vesta, Largus, Granta and Niva. Brand sales in 2022 amounted to 188.6 thousand vehicles (down 46% by 2021).