Itar-Tass cited Mr Igor Komarov president of AvtoVAZ as saying that the company plans to start the production of Renault and Nissan vehicles in 2012.

He said that “I took part in a Renault-Nissan seminar on Thursday. An anti-crisis program and business plans of AvtoVAZ were on the agenda. The seminar participants confirmed the wish of the Renault-Nissan alliance to take part in the AvtoVAZ modernization.”

Mr Igor Komarov said “We agreed on the particular time and amount of funding of the new production line, which will create additional jobs at AvtoVAZ. We understand that we can start the production of vehicles of three concerns on one line in 2012. The alliance will supply 75% of the funds and AvtoVAZ will cover the rest.”

(Sourced from Itar-Tass)