NAMI to transfer former Nissan assets in Russia to AvtoVAZ

The assets of Nissan, which the company sold to the Scientific Research Automobile and Automotive Institute (NAMI), subordinate to the Ministry of Industry and Trade, will be transferred to the Russian concern “AvtoVAZ”, the process is at the final stage. About it informed Deputy Prime Minister, Head of the Ministry of Industry and Trade Denis Manturov in an interview with a TV channel RBC.

“You know that Nissan recently made a decision to transfer shares to NAMI. NAMI, in turn, transfers these shares to AvtoVAZ for the subsequent launch of the production of Lada cars, in cooperation with foreign manufacturers, at the site in St. Petersburg, ”he said.

It is not specified which foreign manufacturers are in question. Manturov added that now the process of reaching agreements is at the final stage.

The Deputy Prime Minister also expressed hope that in 2023 the trends in the automotive industry will be clearly identified. He allowed that some companies will make the final decision to leave Russia, while others will stay, return or transfer their assets.

The fact that the former Nissan plant will come under the control of AvtoVAZ, Manturov informed 9th December. He specified that the enterprise will resume production in 2023.

December 21, AvtoVAZ General Director Maxim Sokolov informedthat the former Nissan plant in St. Petersburg will produce Lada cars. According to him, they will be “modern, high-quality, with high consumer advantages and with the highest safety standards.”

October 11 Ministry of Industry and Trade informed on the transfer of 100% of Nissan assets in Russia by NAMI “Nissan Manufacturing Rus”, including a plant in St. Petersburg. It was clarified that AvtoVAZ would deal with the after-sales service of cars and the supply of spare parts. At the end of November, the plant became the property of NAMI.

The deal provides for an option to repurchase Nissan Manufacturing Rus of its assets, which can be exercised over the next six years. As Vedomosti wrote, Nissan sold its property in Russia to NAMI for one euro. In order to buy back the assets, the company will need to compensate for the investment of the Russian Federal State Unitary Enterprise or its partner in the amount of up to 180 million euros, at the rate of 30 million euros per year.