Tuesday, December 11, 2007
Renault acquires stake in Lada owner
Renault has moved to secure a stake in the expanding Russian car market by taking a 25 per cent share in the country’s largest carmaker.
The french brand, which is a powerhouse in the European market, has become a strategic partner of Avtovaz, which controls 70 per cent of car production in Russia and owns the Lada brand.
The partners aim to step up output for the domestic market and abroad and to renew the Lada range through raising production to more than 1 million units a year.
DATED: 11.12.07
FEED: MT
