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            july 21, 2019

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Indiaexportnews.com

Renault and AvtoVAZ sign the final agreements

  29.02.2008    

Russian Technologies and Renault will become equal shareholders of AvtoVAZ in the
spirit of a long-term partnership. Once the capital of AvtoVAZ has been restructured in the
first half of 2008, Russian Technologies and Renault will each own 25% + 1 of the
ordinary and preferred shares of the company.
AvtoVAZ and Renault will share know-how and technology particularly in relation to
manufacturing and marketing and with the aim of improving the attractiveness,
competitiveness and overall quality of AvtoVAZ's products.
AvtoVAZ will benefit from Renault's contributions in relation to platforms and power trains
in order to rapidly renew and enhance the entire Lada product line. The first Lada vehicle
to come from this partnership could be commercialized at the end of 2009.
Sales volumes of Lada vehicles, in agreement with AvtoVAZ, will be consolidated by
Renault. Consequently, Russia will become the Renault Group's main market.
After March 1st**, and in order to optimize integration and boost the transformation of
AvtoVAZ into a global automotive player, Renault shall propose five executives to join the
executive committee of AvtoVAZ, four of whom come from Renault and one from
AvtoVAZ:
• Chief Operating Officer - Yann Vincent
• Executive Vice-President, Plan, Product Planning and Programs - Hugues
Desmarchelier
• Senior Vice-President, Controlling - whose name will be announced later
• Executive Vice-President, Purchasing - Christian Muller
• Executive Vice-President, Engineering - Maxim Nagaytsev
Renault shall be attributed three of the twelve seats on the Board of Directors of AvtoVAZ
and will be represented by Carlos Ghosn, President and CEO of Renault, Patrick Pelata,
Executive Vice President, and Thierry Moulonguet, Executive Vice President.
Renault and AvtoVAZ shall rely on a Joint Strategic Committee to decide the strategy and
coordinate the activities common to both companies, each of which retains its autonomy
of decision-making and strategic orientation.

* This amount does not include the payment of a supplementary price (earn out) to be
fixed according to AvtoVAZ’s financial performance in 2008 - 2009.
** Upon approval of the European Commission.


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