Through this new partnership, Renault and AvtoVAZ will share know-how and technology with regards to manufacturing and marketing in order to improve the attractiveness, competitiveness and overall quality of AvtoVAZ's products. The two companies will also work together to develop common engines and transmissions.
This investment should significantly strengthen Renault's competitive position on the Russian marketplace, which would incidentally become the premier market for the French group.
AvtoVAZ, better known to Canadians as Lada, is one of the largest carmakers in Eastern Europe and the leading auto manufacturer in Russia, where it controls about 70 percent of the domestic car production. Its manufacturing plants can produce a total of more than one million cars annually.
Meanwhile, Renault is a global automotive manufacturer selling 2.5 million vehicles worldwide on a yearly basis. The Renault-Nissan Alliance represents the fourth largest automaker in the world, with a forecast of 6.3 million units for 2007. Both companies are quickly developing their operations in emerging markets and have already announced important joint projects in India and Morocco.
This partnership is part of Renault's commitment to become the most profitable European volume car company by 2009.
photo:Renault
This investment should significantly strengthen Renault's competitive position on the Russian marketplace, which would incidentally become the premier market for the French group.
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AvtoVAZ, better known to Canadians as Lada, is one of the largest carmakers in Eastern Europe and the leading auto manufacturer in Russia, where it controls about 70 percent of the domestic car production. Its manufacturing plants can produce a total of more than one million cars annually.
Meanwhile, Renault is a global automotive manufacturer selling 2.5 million vehicles worldwide on a yearly basis. The Renault-Nissan Alliance represents the fourth largest automaker in the world, with a forecast of 6.3 million units for 2007. Both companies are quickly developing their operations in emerging markets and have already announced important joint projects in India and Morocco.
This partnership is part of Renault's commitment to become the most profitable European volume car company by 2009.
photo:Renault