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Renault’s Russia buyback to cost at least $1.3 billion, says Russia’s Avtovaz

French carmaker Renault must repay at least RUB112.5 billion for investments made by AvtoVAZ during its absence from Russia, according to AvtoVAZ president Maxim Sokolov.
AvtoVAZ's sales of Lada cars increased by 30.2% in 2024, selling almost 460,000 cars, significantly recovering from a slump in 2022.
Western firms have largely exited Russia since February 2022, including Renault, which sold its 67.6% stake in AvtoVAZ for only RUB1.

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Business Insider

Russia is using the French carmaker Renault to teach Western companies a lesson about leaving its market

French carmaker Renault exited Russia following Moscow's invasion of Ukraine.Maksim Konstantinov/SOPA Images/LightRocket via Getty ImagesRenault's former partner in Russia said the French carmaker may need to pay $1.3 billion to re-enter the market.Renault exited Russia in 2022, selling its assets for one ruble amid Western sanctions.Foreign firms face challenges returning to Russia, with potential compensation demands looming.Renault exited the…

2 days ago·United States

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WTVB

Renault’s Russia buyback to cost at least $1.3 billion, says Russia’s Avtovaz

By Gleb Stolyarov and Alexander Marrow (Reuters) – Should French carmaker Renault wish to buy back its majority stake in Russia’s top carmaker Avtovaz, it would have to pay at least 112.5 billion roubles ($1.3 billion) to cover investments made since selling for only one rouble in 2022, Avtovaz said. U.S. efforts to secure a quick deal to end the war in Ukraine have sparked speculation that Western companies could seek to return to Russia in the…

3 days ago

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intellinews.com

Renault must pay $1.3bn if it wants to re-enter Russian market

French carmaker Renault must repay at least RUB112.5bn ($1.3bn) of the money invested by its Russian partner AvtoVAZ in the joint venture during its absence, AvtoVAZ president Maxim Sokolov said on February 25.

3 days ago

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The Moscow Times

Want to Return to Russia? Pay Up $1.3Bln, Avtovaz CEO Tells Renault

French automaker Renault would need to reinvest 112.5 billion rubles ($1.29 billion) to regain its former Russian assets, the head of Russia’s top manufacturer, Avtovaz, said Monday.

3 days ago·Amsterdam, Netherlands

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RTVI

AvtoVAZ announced the condition for Renault's return to Russia

In order to return to Russia, the French carmaker Renault must reimburse the investments of at least 112.5 billion rubles that were invested in the development of AvtoVAZ's production facilities. This was stated by Maxim Sokolov, President of the Russian carmaker, RIA Novosti reports.

3 days ago·Moscow, Russian Federation

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Aletho News

Russian auto-giant cites billion dollar Renault re-entry price tag

RT | February 25, 2025 Renault will have to compensate Russian carmaker AVTOVAZ up to $1.3 billion if it wishes to re-acquire its former business and re-enter the market, having previously quit the country, CEO Maxim Sokolov said on Tuesday. In 2022, AVTOVAZ purchased Renault’s share in the joint enterprise for a symbolic sum of 1 ruble with an option to return within six years. Renault joined other foreign corporations that succumbed to interna…

3 days ago

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