The former Nissan automobile plant in St. Petersburg will become a site for the production of Lada cars. This was announced by the general director of the Russian concern “AvtoVAZ” Maxim Sokolov, reports TASS.
He did not disclose further details, but specified that the cars to be produced at the plant in St. Petersburg will be “modern, high-quality, with high consumer advantages and with the highest safety standards.”
On October 11, the Ministry of Industry and Trade announced the transfer of 100% of Nissan’s assets in Russia to Nissan Manufacturing Rus, including a plant in St. Petersburg, subordinated to the Ministry of Industry and Trade, the Research Automobile and Automotive Institute (NAMI). It was clarified that AvtoVAZ would deal with the after-sales service of cars and the supply of spare parts.
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.
At the end of November, the plant became the property of NAMI. On December 9, Deputy Prime Minister – Head of the Ministry of Industry and Trade Denis Manturov announced that the plant would resume production in 2023 under the control of AvtoVAZ.