TASHKENT, Apr 27 (PRIME) -- French car producer Renault plans to transfer the shares of its Avtoframos plant to the Moscow government, and the facility will continue to produce other cars, maybe under the Lada brand, Minister of Industry and Trade Denis Manturov told reporters late on Tuesday.
“Renault has indeed decided to transfer the shares of AvtoVAZ and Avtoframos because of a deficit of funds for operations of its divisions in Russia. Avtoframos (will be transferred) to Moscow as a subject,” he said.
“(The facility) will not be shut down and will produce other cars,” he added.
Manturov also said that there are no talks on selling Renault’s 68% stake in AvtoVAZ to Chinese or Korean companies.
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