BREAKING: Renault enters strategic partnership with AutoVAZ
AutoVAZ will undergo a capital restructuring in early 2008, after which Russian Technologies and Renault will become equal shareholders in AutoVAZ, controlling a combined 50% of total shares. In addition to the obvious product benefits that AutoVAZ will reap from the Renault tech infusion, the French automaker gets to pad its annual report, as AutoVAZ sales will be consolidated under Renault. Due to AutoVAZ's volume, Russia should become Renault's largest market, and according to the attached announcement, Renault has already begun upwardly adjusting its 2009 forecast. Here's hoping for a revamped Lada Niva that combines updated tech with the spirit of the original and that can still be driven underwater if some crazy Russians decide to have a little fun.
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