AvtoVAZ owner of Lada
AvtoVAZ (Russian: АвтоВАЗ, IPA: [ɐftoˈvas]) is a Russian automobile manufacturing company owned by the state. It was formerly named as VAZ (Russian: ВАЗ), an acronym for Volga Automotive Plant in Russian (Russian: Во́лжский автомоби́льный заво́д, romanized: Vólzhskiy avtomobíl'nyy zavód). AvtoVAZ is best known for its flagship series of Lada vehicles. In the Soviet Union, its products used various names, including Zhiguli, Oka, and Sputnik, which were phased out in the 1990s and replaced by Lada for the Russian market. From December 2019 to August 2020, AvtoVAZ sold Niva cars with Chevrolet branding.
AvtoVAZ was established in 1966 by the Soviet government as a state-run car manufacturer. It was privatized in the 1990s and was a subsidiary of Renault from October 2016 to May 2022. In May 2022, it was re-acquired by the Russian government. The company is indirectly owned by Russian state enterprises through Lada Auto Holding.Groupe Renault takeover
In October 2016, Renault invested $1.33 billion in another recapitalization of AvtoVAZ, this time without involvement from Nissan, making the company a subsidiary of the French group. In September 2017, Nissan sold its AvtoVAZ stake to Renault for €45 million.In December 2018, Renault and Rostec completed the acquisition of all AvtoVAZ shares through their Alliance Rostec venture. The company then delisted from the Moscow Exchange. In 2018, AvtoVAZ posted a net profit of $90.5 million, its first positive result in a decade. In June 2019, Rostec announced it would eventually reduce its stake in AvtoVAZ to 25%. In December 2021, Renault and Rostec transferred its shares from the Netherlands-registered Alliance Rostec to the Russia-registered Lada Auto Holding. The new holding kept the same Renault-Rostec shareholding ratio as its Dutch predecessor. In March 2022, following the 2022 Russian invasion of Ukraine and international pressure to doing so, Renault said it was "assessing" its AvtoVAZ ownership.In December 2019, AvtoVAZ acquired General Motors' stake in their GM-AvtoVAZ joint venture. As part of the deal, AvtoVAZ used Chevrolet branding for the Niva models until August 2020, before replacing it with Lada.In January 2021, following a company revamp, Renault said it would integrate Lada and sister Dacia brands into a new business unit. AvtoVAZ was made part of the business unit structure.
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