AVTOVAZ BoD approved main directions of development Strategy
March 14, 2023
At the last meeting, the BoD of AVTOVAZ JSC approved main directions of the Company’s development strategy, which the updated “Development Strategy-2030” will be based on. The document is expected to be finalized in Q4 2023.
AVTOVAZ’s “Development Strategy-2030” is worked out in accordance with the state auto industry development strategy approved by the Russian government in late 2022. The government approach to the industry is based on satisfaction of the Russian market with highly localized cars, ensuring technological sovereignty, auto industry’s share growth in the country’s GDP, as well as competitiveness increasing of Russian products on the global market and export development.
To fulfill these objectives, AVTOVAZ development strategy will include a set of solutions and actions on five main directions:
1. Taking of dominating position in the Russian market by AVTOVAZ.
2. Product lineup expanding, including by developing own platforms.
3. Technological sovereignty achievement, primarily on crucially important technologies and components.
4. Export sales development and increasing the number of markets with LADA presence, using local and global partners.
5. Maintaining business profitability and reaching financial sustainability by AVTOVAZ, including by loan repayment provided in the period when foreign shareholder “Renault-Nissan” Alliance managed the Company.
«Our main goal in the “Development Strategy-2030” is to make the document as realistic as possible in the current conditions, AVTOVAZ President Maksim Sokolov told. AVTOVAZ has faced the most difficult challenges in the Company’s history and we clearly understand our responsibility towards our team, clients, partners and shareholders for successful work continuation of our production facilities. We are grateful to the Russian Government and regional authorities for comprehensive support and we further count on the effective state and regional auto and related industries’ support programs. These measures will ensure fine following of our strategy’s main directions and goals’ fulfillment of the state auto industry development Strategy”.
go backAVTOVAZ’s “Development Strategy-2030” is worked out in accordance with the state auto industry development strategy approved by the Russian government in late 2022. The government approach to the industry is based on satisfaction of the Russian market with highly localized cars, ensuring technological sovereignty, auto industry’s share growth in the country’s GDP, as well as competitiveness increasing of Russian products on the global market and export development.
To fulfill these objectives, AVTOVAZ development strategy will include a set of solutions and actions on five main directions:
1. Taking of dominating position in the Russian market by AVTOVAZ.
2. Product lineup expanding, including by developing own platforms.
3. Technological sovereignty achievement, primarily on crucially important technologies and components.
4. Export sales development and increasing the number of markets with LADA presence, using local and global partners.
5. Maintaining business profitability and reaching financial sustainability by AVTOVAZ, including by loan repayment provided in the period when foreign shareholder “Renault-Nissan” Alliance managed the Company.
«Our main goal in the “Development Strategy-2030” is to make the document as realistic as possible in the current conditions, AVTOVAZ President Maksim Sokolov told. AVTOVAZ has faced the most difficult challenges in the Company’s history and we clearly understand our responsibility towards our team, clients, partners and shareholders for successful work continuation of our production facilities. We are grateful to the Russian Government and regional authorities for comprehensive support and we further count on the effective state and regional auto and related industries’ support programs. These measures will ensure fine following of our strategy’s main directions and goals’ fulfillment of the state auto industry development Strategy”.
