Russian automakers AvtoVAZ and Sollers have signed a cooperation agreement to develop a suppliers’ auto components base, according to a statement issued by AvtoVAZ.
Both companies are hoping that the agreement will allow suppliers to be developed that can supply and meet the needs of both companies.
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Russia’s automotive supply base has been identified by analysts as weak because of the history of highly vertically integrated companies such as AvtoVAZ who did almost everything in-house.
The cooperation between the two should encourage higher volumes and lower unit-costs on parts.
The companies have also agreed to support and develop the workforce capacity in the country’s car industry, AvtoVAZ said.
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