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AvtoVaz and Renault-Nissan to set up JV
22.09.2009 20:49
AvtoVaz and Renault-Nissan to set up JV

Russian car-maker AvtoVaz and Renault-Nissan Alliance intend to set up a joint venture to produce car components, the president for AvtoVAZ said at the International Economic Forum in Sochi.
      
       Having taken into consideration the number of AvtoVAz's facilities that are not in operation at the moment, the company came up with several options for cooperation with Renault-Nissan Alliance.
      
      The new company will focus on production of car components, since Renault sees it necessary to extend purchases made in rubles for the Russian businesses of the Alliance. Currently the share of such purchases doesn't exceed 8%, while the company wants to grow it to 74%.
      
      source:
      Russian Business


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