The Western automakers that dominated Russia's car market left following Moscow's invasion of Ukraine, leaving a slumping production and sales in their wake, with domestic producers and Chinese firms picking up the pieces. One of the first Western carmakers to exit, France's Renault in May 2022 sold its majority stake in carmaker Avtovaz and its Moscow factory with annual capacity of 150,000 vehicles to the Russian state, each for one rouble, sources told Reuters at the time. The deal gave Renault a six-year buyback option on its Avtovaz stake.
Russian-made cars with Chinese parts, fittings revive Moscow s auto factories alarabiya.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from alarabiya.net Daily Mail and Mail on Sunday newspapers.
By Gleb Stolyarov and Alexander Marrow (Reuters) - The relaunch of a classic Soviet-era car, the Moskvich, by a state-owned company in November was celebrated by Moscow's mayor as showing the resilience of Russia's auto industry to Western sanction.
Made In Russia? thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.