Russia'sc AvtoVAZ will choose between Renault and Fiat
AvtoVAZ will name its strategic partner in November. Its choice is between Renault and Fiat, one of which will buy a blocking package in the concern.
Acting AvtoVAZ president Alexander Pronin said that he automaker was ready to sign an agreement with Renault in May, when a competing offer was received from Fiat. Renaultâs offer was broader and included the establishment of a âscientific technical centerâ but, âbecause of our delay in answering, the concern decided to create that center in Romania.â
Nonetheless, preliminary agreements with AvtoVAZ remain in force. Renault-Nissan is reportedly aiming to become one of the worldâs top three carmakers. It ranked fourth in 2006 with sales of 5.9 million cars, while Ford came in third with 6.3 million. An alliance with AvtoVAZ could make it the leader in the market for budget vehicles. Renault declined to comment on it negotiations with AvtoVAZ yesterday.
Signing an agreement on the manufacture of Class C with Renault would mean ending a similar project with the Canadian company Magna. AvtoVAZ presented a prototype of the Class C sedan and hatchback that AvtoVAZ hopes to make with Magna. An unofficial source at the company said that Magna had not found a supplier of components for the cars and that the models were fully developed by AvtoVAZ. Each car is supposed to cost around $12,000. (kommersant.com)
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