The head of AvtoVAZ, Maxim Sokolov, said that the Renault Group, which had been cooperating with the domestic auto giant since 2005 and broke off relations after the February events of 2022, could return to Russia.

In an interview with RBC, Sokolov said that he did not exclude such a possibility, because from a business point of view, leaving Russia for Renault turned out to be very unprofitable.

What business would voluntarily give up half of its income? Therefore, of course, we see that there is a certain pressure. And, of course, business will regret leaving Russia, including manufacturers of both auto components and cars.

Maxim Sokolov

He added that AvtoVAZ brought half of the profits of the French concern in 2021. Recall that the signing of agreements on the transfer of Russian assets of Renault Group to the Russian Federation and the Government of Moscow took place in May 2022, and the agreement stipulates an option for Renault to buy back its stake in AvtoVAZ over the next six years.

Renault estimated the value of its assets in Russia at 2.195 billion euros. The transaction amount was 1 ruble.

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