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Article: Renault, AvtoVAZ look for synergies; Deeper integration is planned, but only after 2 companies agree on future products.(News)
- Article from:
- Automotive News Europe
- Article date:
- June 9, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Lawrence J. Speer
Automotive News Europe
PARIS * Renault is looking for some quick synergies with Russia's AvtoVAZ, but deeper integration efforts will have to wait until a recovery plan for the Russian car company is finalized later this year.
In February, Renault bought a 25 percent stake in AvtoVAZ for $1 billion (?644 million). The two carmakers will jointly run the company.
Yann Vincent, a senior Renault executive, is now the chief operating officer of the Franco-Russian joint venture. Vincent and a handful of French executives are working with AvtoVAZ management on a plan to boost production capacity in the red-hot ...