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Russia’s biggest automaker to kickstart production of electric cars in 2027

Major Russian car manufacturer AvtoVAZ plans to launch production of its new electric Lada vehicles in 2027-2028, according to the company’s president and CEO Nicolas Maure.

“These are the plans that we will discuss with the government,” Maure said at the International Moscow Automotive Forum IMAF-2021. He clarified that he was talking about a fundamentally new electric vehicle, not the firm’s previous model, the Lada Ellada (the first serial Russian electric car produced by AvtoVAZ, which was publicly launched in 2011).

According to the company’s plan, by the end of this decade a total of 10% of all Russian electric vehicles will be produced by AvtoVAZ.

The largest car manufacturer in Russia and Eastern Europe, AvtoVAZ produces nearly one million vehicles a year. It already has a stable market share in the CIS countries and also exports cars to Germany, Iran, Syria, Egypt, and Hungary. The carmaker intends to expand to the Czech Republic, Mongolia, and Southeast Asia. AvtoVAZ recently started exporting vehicles to China and the United Arab Emirates.

The AvtoVAZ Group is part of the Renault-Nissan-Mitsubishi Alliance and produces full-cycle cars under four brands – Lada, Renault, Nissan, and Datsun.

In 2019, Lada cars were named among the world’s top 50 best-selling brands by analytics agency Focus2move. The Lada brand consists of five model families: Vesta, XRAY, Largus, Granta, and Niva. The brand is the leader in the Russian automotive market, with a share of more than 20%, and is represented in more than 20 countries.

For more stories on economy & finance visit RT’s business section

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