Renault Japon and Nissan Plan to Co-Invest in Russia's Largest Auto Plant Avto Vaz

2012-12-22

Renault Japon and Nissan jointly invested 742 million US dollars, and expected to acquire over half of Avto VAZ's stock equity, with the purpose to expand maket share in competitive Russia through partnership with local corporation. The two companies have already established a company merger with Russian Technology, and acquired 74.5% of Avto VAZ's stock equity. Last year, Renault Japon, Nissan and Russian Technology reached global sales number of 8 million vehicles, becoming the third in the world.