Market: Avtovaz will resume production in early June, reports RIA Novosti


(Reuters) – Avtovaz, Russia’s top automaker, will resume production in early June, RIA Novosti news agency reported on Tuesday, citing the company’s new chief executive.

The group, parent company of Lada, partially halted production in March due to a shortage of electronic components after the Russian invasion of Ukraine disrupted its supply chains.

“At the beginning of next month, we should start production,” general manager Maxim Sokolov said on Tuesday, as quoted by RIA Novosti.

The French automotive group Renault recently announced that it had signed an agreement to sell its stake in Avtovaz to a Russian science institute, with a six-year buyout option, in the context of the application of European sanctions imposed on Russia because of of the war in Ukraine.

(Reuters report, French version Diana Mandiá, edited by Sophie Louet)

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