The AvtoVAZ President, Nicolas Maure, said that within five years the company plans to present new Lada models thus bringing the brand to a higher price segment, “much higher than a million rubles”, RIA Novosti reports.
“Starting in 2023 and until 2026, we will enter the cycle of updating the model range. […] Lada will not only be a fairly affordable brand for consumers, but also a brand that delivers good performance to consumers for the money,” Maure said.
He also said that the company is deeply modernizing its production sites in Togliatti and Izhevsk. In particular, it is planned to transfer production to a single assembly platform Renault-Nissan CMF-B (it is specified that at the moment AvtoVAZ produces full-cycle vehicles and components for two brands, Lada and Renault).
Today, Avtovaz is the leader in the Russian automotive market with a share of over 20 per cent and is represented in more than 20 countries. According to plans announced at the beginning of the year, AvtoVAZ will launch the production of 4 new car models that should enter the Russian market by 2025, including a new generation of the Niva SUV in 2024.