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AutoVAZ and Renault synergize alliance

30 January 2008

A briefing headlined "Attracting foreign investments into consumer sectors of economy as a factor of sustainable development of Russian enterprises" was held on the sidelines of the Russia Forum organized by Troika Dialog company that opened in Moscow on Wednesday. At the briefing President of the AutoVAZ Group and Deputy Chairman of the Board of Directors of AutoVAZ Boris Aleshin, President and CEO of Renault-Nissan Carlos Ghosn, and Chairman of the Board of Directors of Troika Dialog Group of Companies Ruben Vardanyan briefed journalists about investments into a promising market – the Russian car industry.

According to Ghosn, the AvtoVAZ-Renault alliance should technologically promote further development of the major Russian Lada brand, strengthen its positions on the domestic market with prospects for export, as well as ensure the optimal use of the potential of the suppliers of the Russian carmaker.

Renault, which is the fourth biggest car producer, will offer to its Russian partner high-quality technologies and will help optimize management and investments into the development of the main domestic Lada brand. "We see as a priority task the necessity to unite our resources and raise the existing production assets of AvtoVAZ to a new quality level," Ghosn said.

The French carmaker, which bought a 25-percent stake in AvtoVAZ, plans to modernize the existing Lada models and radically improve the model line of the Volga carmaker by raising their quality to that of a modern vehicle.

Viewing future Russia as a major car market, Renault-Nissan plans to play a major role on it with the help of the Russian partner.