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AvtoVAZ financial program for 2023 will amount to 585 million

2022.12.27 01:12

 


AvtoVAZ financial program for 2023 will amount to 585 million

Budrigannews.com – The governing body of Russian top carmaker AvtoVAZ endorsed the company’s 2023 speculation program for just shy of 40 billion roubles ($585 million), Russia’s state news organization RIA announced late on Monday.

Maxim Sokolov, president of AvtoVAZ, was quoted by RIA as saying, “Yes, it has been approved.”

Renault (EPA:) Earlier this year, it reportedly sold its majority stake in Avtovaz to the Russian government for just one rouble ($0.0165), with a six-year option to buy it back. Nissan was purchased by the same state institution (OTC:). this month’s assets for one euro.

AvtoVAZ reduced production and offered some employees voluntary redundancy in the months following the beginning of the Russian invasion of Ukraine in February due to a lack of components.

According to RIA, the board of directors of AvtoVAZ approved the company’s production plan for 2023, which called for the production of 401,000 vehicles, earlier in December.

More China to provide financial support to industries affected by COVID

According to a statement that was posted on the website of the company’s Lada model, the automaker had produced 200,000 vehicles this year as of Dec. 6.

AvtoVAZ financial program for 2023 will amount to 585 million

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