Renault no relation NAMI
Re-nationalization
On 16 May 2022, Renault said it had sold its controlling stake in AvtoVAZ to the Central Research and Development Automobile and Engine Institute (NAMI), a state-owned research center, for one rouble. The agreement has a buyback option for Renault within six years after the sale.In November 2022, the controlling shareholder of AvtoVAZ, NAMI, acquired Nissan's Saint Petersburg facilities (including its assembly plant) for a "symbolic price" with a six-year buyback option. In February 2023, NAMI sold 99% of them in turn to AvtoVAZ for €1. AvtoVAZ plans to use the plant to assemble C and D-segment vehicle kits from other manufacturers, under the Lada badging.
no relation