The head of AvtoVAZ assessed Renault's possible return to Russia

If Renault decides to buy back its stake in AvtoVAZ, sold in 2022, the amount of investments made by both the state and the enterprise itself over the past time should be evaluated. This was stated by the head of AvtoVAZ Maxim Sokolov on the sidelines of the Forum on Regulatory Policy of the Russian Union of Industrialists and Entrepreneurs, reports the correspondent of "Izvestia" on February 25.

According to Sokolov, we are talking about amounts that exceed the average annual investment by Renault. In previous years, the French concern sent investments in development in the amount of 20-22 billion rubles.

"In 2023, our volume of investments amounted to more than 27.5 billion rubles, last year - 40 billion. This year, we plan to invest at least 45 billion rubles. It is clear that these investments will have to be returned. Thus, the "entry price" will definitely not be equal to the "exit price" of 1 ruble. In any case, it is still too early to talk about it. For three years we have responded to so many seemingly unsolvable challenges that we are now ready for any scenario," said the head of AvtoVAZ.

Apart from Renault's public statements about a possible return to Russia in the future, AvtoVAZ has not received any documents, the top manager noted. This issue should be decided no longer at the level of the enterprise, but more at the level of state policy.

"Nevertheless, the AvtoVAZ team has proved that we can confidently develop independently even in fierce competition. All possible changes should be pre-analyzed. This should be done using, among other things, regulatory impact assessment - it is necessary to assess all possible directions of the industry's development, taking into account the strategy for the development of the automotive industry adopted by the government," Sokolov added.

The era of renaissance: foreign car companies want to return to Russia

Experts doubt the success of car brands that decided to return to the Russian market

As the Financial Times reported on February 22, Renault CEO Luca de Meo said that the company does not rule out a return to Russia. He said that buying out a controlling stake in AvtoVAZ is not a priority, but the brand's management is open to discussing business opportunities. The press service of the Russian company told Izvestia that it is not currently negotiating with Renault. Prospects for Renault's return to the Russian market are hardly good, Moscow Mayor Sergei Sobyanin shared.