AvtoVAZ plans to raise 2024 Lada output by 33%

ST. PETERSBURG, Jun 15 (PRIME) -- Russia's AvtoVAZ will likely raise output of the Lada cars to 550,000 in 2024 from 400,000 in 2023, President Maxim Sokolov said at a briefing on the St. Petersburg International Economic Forum on Thursday.

"Yes, the only thing is that the 50,000 part will depend on the export prospects," Sokolov said, when asked whether AvtoVAZ planned to raise production. "We are assessing the possibilities of launching the facilities in different countries. This refers to the overall production, by our affiliates and partners."

The Russian facilities can make about 500,000 cars.

AvtoVAZ plans to stop manufacturing the Lada Granta cars after 2026–2027 and to launch new line Lada Iskra at the end of 2024. The sales of cars of the new line are scheduled for the first quarter of 2025.

Sokolov estimated investment in the new car brand creation at 37 billion rubles, 20 billion rubles of which are yet to be made.

The company will also launch production of the Lada X-Cross 5 cars on the former plant of Nissan in St. Petersburg on Saturday, the executive said.

(84.3249 rubles – U.S. $1)

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