The Renault–Nissan alliance is expected to increase its stake in AvtoVAZ within two to three years, Sergei Chemezov, CEO of Russian state-owned industrial conglomerate Rostekhnologii, said.

In October, Renault–Nissan said it was in talks on buying Russian investment bank Troika Dialog’s stake in AvtoVAZ. Renault–Nissan, Troika Dialog, and Rostekhnologii each own 25% plus one share in AvtoVAZ.

Renault chief Carlos Ghosn said earlier he saw logic in the carmaker taking a controlling stake in AvtoVAZ.

Following a meeting with Russian prime minister Vladimir Putin, Ghosn told reporters that increasing Renault’s current 25% stake would be a “logical development of our partnership".