AvtoVAZ is reportedly interested in buying a plant in the Kaliningrad region where foreign car models are assembled, according to a local newspaper report.
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Kommersant business daily reported that AvtoVAZ and Renault might acquire the Avtotor plant, where Chevrolet, BMW, Kia, Cadillac and Hummer models are currently assembled.
The report said that managers from AvtoVAZ and Renault (which now has a 20% stake in AvtoVAZ) visited the plant last month but had not yet made an offer yet.
The newspaper cited remarks made by AvtoVAZ general director Boris Alyoshin.
It is also reported that Avtotor has stopped production of Chinese car brand Chery.
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By GlobalDataAvtotor and Chinese auto manufacturer Chery have also dropped their plans to jointly build an auto plant, Avtotor said.
The company attributed the decision to the negative impact that the US dollar’s depreciation and a stronger ruble would have on the plant’s exports.
