Russia's Avtovaz plans to resume production of Lada Granta from June 8
Reuters
Published Jun 03, 2022 05:24AM ET
(Reuters) - Russia's top carmaker Avtovaz said on Friday it would resume production of its best-selling Lada Granta model from June 8, after partially halting production in March due to a shortage of electronic parts because of Western sanctions on Moscow.
French auto giant Renault (EPA:RENA) struck a deal in May to sell its majority stake in Avtovaz to a Russian science institute, reportedly for the symbolic sum of just one rouble, with a six-year option to buy it back.
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Written By: Reuters
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