The head of AvtoVAZ said that he does not expect Renault to return.

AvtoVAZ can develop effectively on its own and ensure the technological sovereignty of the industry, therefore it does not expect Renault, which was previously a shareholder, to return. This was stated by the head of AVTOVAZ Maxim Sokolov on the sidelines of a meeting of the coordinating council "On the development of automotive components production."

"We see that we can effectively develop independently, using our own sources, at the expense of our own market, and thus ensure technological sovereignty for our industry. That's why we're definitely not waiting for anyone. There is no turning back," Sokolov quotes RIA Novosti February 27.

The top manager added that now "the AVTOVAZ team firmly holds the helm in their hands" and there is no question of returning the former partner and "the price of this return".

Last week, Renault CEO Luca de Meo said that the company does not exclude 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 then informed Izvestia that it is now does not negotiate with Renault. Renault has prospects of returning to the Russian market hardly good, the mayor later shared Moscow Sergey Sobyanin.

In the spring of 2022, Renault transferred 67.69% of AvtoVAZ shares to state ownership and 100% of the Renault Russia plant to the Moscow government. The deal provided for an option for Renault to buy back its stake in AvtoVAZ for six years.

On February 25, Maxim Sokolov stated that in the case of if Renault decides to buy back its stake in AvtoVAZ, the amount of investments made by both the state and the company itself over the past year should be assessed. the time. According to him, we are talking about amounts that exceed the average annual investment from Renault. In recent years, the French concern has invested 20-22 billion rubles in development, but after his departure, these amounts have increased significantly.