Russia's Avtovaz will restart production in early June, RIA reports

1 minute read

The logo of Lada is pictured on a car produced by the Russian automaker Avtovaz during the 2018 Moscow International Auto Salon in Moscow, Russia August 29, 2018. REUTERS/Maxim Shemetov

Register now for FREE unlimited access to Reuters.com

May 24 (Reuters) - Russia's top carmaker Avtovaz said it will resume production in early June, the RIA Novosti news agency reported on Tuesday, citing the company's new CEO.

The Lada-maker partially halted production in March due to a shortage of electronic parts, as the conflict in Ukraine and imposition of Western sanctions have disrupted Russian supply chains.

"At the beginning of next month we should launch production," RIA Novosti quoted CEO Maxim Sokolov as saying on Tuesday.

French auto giant Renault struck a deal last week to sell its majority stake in Avtovaz to a Russian science institute, reportedly for the symbolic sum of just one rouble, with a six-year option to buy it back. read more

Register now for FREE unlimited access to Reuters.com
Reporting by Reuters, Editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.