The head of Rostec said there were no prospects for negotiations with Renault

There are no political prerequisites for Renault's possible return to AVTOVAZ's capital, they are not visible "even on the farthest horizon." This was stated by Sergey Chemezov, CEO of Rostec State Corporation.

"There are no substantive talks with Renault on this topic either," RIA Novosti quoted him as saying on August 20.

Chemezov recalled that the conditions for the return of foreign companies to Russia are determined by the state. Russian President Vladimir Putin instructed the government to form an order for their return, he noted.

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.

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In February, Luca DeMeo, who was Renault's CEO at the time, said the company did 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. Renault's prospects for returning to the Russian market are hardly good, Moscow Mayor Sergei Sobyanin later shared.

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.

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