Renault may sell its stake in AvtoVAZ to the Chinese as early as May

According to TASS, citing its own informant, some Chinese car concern will buy a stake in Avtovaz from Renault as early as May or June this year.

The fact that the buyer could be Chinese was first talked about last week, and now the information has been confirmed along with a timeline. There were also reports that the new owner could be the state corporation Rostec or structures of the Ministry of Industry and Trade, which owns a 32.4% stake in the Russian JV Lada Auto Holding. Renault has the remaining 67.6%.

Earlier it became known that Renault will suspend its activities in Russia. The company’s Moscow plant has already stopped its work.

“Avtovaz resumed work today after vacation from April 4 to April 24, but this time was not enough to find the necessary electronic components to assemble all Lada models.

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