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Lada, owned by AvtoVAZ, Russian car manufacturer, will commence production of a Renault sedan from February. Marketing the same under the Lada brand, this four door sedan is a part of the liaison between Renault Nissan and AvtoVAZ. AvtoVAZ will also produce a new Nissan vehicle similar to Renault based Lada by end of 2012.
As per media reports, Renault Nissan holds a 25% stake in AvtoVAZ while they are aiming to increase this share to 50% in a couple of week's time. AvtoVAZ will be an important partner for Renault Nissan specially where markets of Europe are concerned.
While the auto situation in Europe does not seem that promising, Renault Nissan alliance with AvtoVAZ would prove to be an important partnership. Auto sales in Russia increased 39% to 2.65 million during 2011. AvtoVAZ has contributed a major part to these sales. The company produced 630,000 vehicles last year and hopes to increase this figure to 750,000 during the current year.
