Renault-Nissan Planning to Buy Larger Stake in Lada

Renault-Nissan is planning to increase its 25% stake in AvtoVAZ, better known as Lada, up to 50% and to use Lada to make more modern, Renault-based cars for the Russian market. The Lada factory would also be used to produce Nissan-branded cars. That would boost Lada's production from 630,000 cars per year to 750,000 cars a year.

Renault-Nissan boss Carlos Ghosen believes that the deal to purchase the 50% stake in Lada is weeks away. 

Source: Bloomberg