Manturov named the conditions for Renault's return to AVTOVAZ's capital

Renault's option to return to AVTOVAZ's capital provides for a number of conditions, including the supply of components. This was stated by First Deputy Prime Minister Denis Manturov.

"There was such an option initially in the signed withdrawal agreement, the option remains, but there were many conditions for maintaining this option, including compliance with the supply of components and the preservation of the digital control system," TASS quoted Manturov as saying on March 18.

The First Deputy Prime Minister noted that he was unaware that the return of the former shareholder was currently being considered. He pointed out that if Renault has a desire to return, then it will be necessary to take into account the investments that the state has made in the production of cars during this period of time. The head of AVTOVAZ, Maxim Sokolov, previously noted that in previous years the French concern had invested 20-22 billion rubles in development, but after his departure these amounts increased significantly.

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.

Earlier in the day, the head of Rostec State Corporation, Sergey Chemezov, said that the possibility of Renault's return to AvtoVAZ's capital exists, but there are no negotiations on this issue yet.

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

On February 27, the head of AvtoVAZ, Maxim Sokolov, said that the domestic company could develop effectively on its own and ensure the technological sovereignty of the industry, so it was not waiting for Renault, which had previously been a shareholder, to return.