Lada West Togliatti

JSC Lada West Togliatti
Native name
АО Лада (LADA) Запад Тольятти
IndustryAutomotive
PredecessorGM-AvtoVAZ
Founded
  • December 2019 (de facto)
  • 15 April 2020 (de jure)
Headquarters
Tolyatti
,
Russia
Key people
Yuri Skulsky (Director)
ProductsCars
RevenueIncrease 13,140.93 million ₽[1] (2020)
Increase 191.49 million ₽[1] (2020)
Increase -229.04 million ₽[1] (2020)
Total assetsDecrease 3,982.61 million ₽[1] (2020)
Total equityDecrease 1,619.88 million ₽[1] (2020)
ParentAvtoVAZ

Lada West Togliatti (Russian: Лада Запад Тольятти, IPA: [ˈladə ˈzapət tɐlʲˈjætʲ(ː)ɪ]) is a Russian car manufacturer owned by AvtoVAZ. The company came from GM-AvtoVAZ, a joint venture between AvtoVAZ and General Motors.

History

Lada West Togliatti predecessor was GM-AvtoVAZ, a joint venture created in early 2001 for producing the VAZ-2123 (Niva II) off-road vehicle under the name Chevrolet Niva. Initially, the venture had three co-owners: AvtoVAZ and General Motors (GM) each owned 41.6% of the shares, and the remaining 16.8% belonged to the European Bank for Reconstruction and Development (EBRD). In 2012, the EBRD withdrew from the venture, selling its shares equally to partners.[2]

In December 2019, GM sold its stake to AvtoVAZ, making GM-AvtoVAZ a wholly owned subsidiary of the latter. The former venture kept the right to continue using the Chevrolet marque for a certain amount of time.[3][4] On 15 April 2020, AvtoVAZ officially dropped the GM-AvtoVAZ name and re-incorporated the former venture as "JSC Lada West Togliatti".[5]

In July 2020, Lada West Togliatti stopped assembling Chevrolet-badged Nivas, adopting instead the Lada marque.[4] In December 2020, Lada West Togliatti introduced the Niva Travel, a revised Niva.[6]

In July 2021, the Lada Travel production was transferred to the main AvtoVAZ's Tolyatti plant.[7] AvtoVAZ CEO Nicolas Maure clarified that the Lada West Togliatti production would be "suspended" but the plant was to be neither closed nor sold.[8]

Leadership

The first general director of Lada West Togliatti was Romuald Rytvinski who also hold the same position while it was a joint venture with GM. In December 2020, he was replaced by Yuri Skulsky, the then human resources chief of the company.[9]

References

  1. ^ a b c d e "АО "Лада Запад Тольятти": бухгалтерская отчетность и финансовый анализ" [JSC Lada West Togliatti: accounting reports and financial analysis] (in Russian). Lada West Togliatti. Retrieved 26 January 2022 – via Audit-It.
  2. ^ "Завод GM-AvtoVAZ переименовали" [GM-AvtoVAZ was renamed]. Drom (in Russian). 16 April 2020. Retrieved 31 January 2021.
  3. ^ Stolyarov, Gleb; Marrow, Alexander (9 December 2019). "General Motors pulls out of Russian car assembly business with Avtovaz deal". Reuters. Retrieved 1 February 2021.
  4. ^ a b ""АвтоВАЗ" начал выпуск Chevrolet Niva под маркой Lada" [AvtoVAZ startrd production of the Chevrolet Niva under the Lada marque]. Kommersant (in Russian). 10 July 2020. Retrieved 1 February 2021.
  5. ^ ""АвтоВАЗ" сменил название дочки GM-Avtovaz на "Лада Запад Тольятти"" [AvtoVAZ changed the name of its GM-AvtoVAZ subsidiary to Lada West Togliatti]. 1Prime (in Russian). 16 April 2020. Retrieved 1 February 2021.
  6. ^ ""LADA Запад Тольятти" будет производить новую "Ниву"" [Lada West Togliatti will produce a new Niva]. NIASam (in Russian). 23 December 2020. Retrieved 1 February 2021.
  7. ^ "Lada Niva Travel останется в строю как минимум до 2024 года" [Lada Niva Travel will remain on sale until at least 2024]. Motor (in Russian). 26 August 2021. Retrieved 26 January 2022.
  8. ^ Russov, Konstantin (27 July 2021). "Renault не закроет завод в Москве, АвтоВАЗ не продаст "Лада Запад Тольятти"" [Renault will not close the Moscow plant, AvtoVAZ will not sell Lada West Togliatti]. Rossiyskaya Gazeta (in Russian). Retrieved 26 January 2022.
  9. ^ Chuprov, Alexander (9 December 2020). "The head of the plant "LADA West Togliatti" has been replaced". Autostat. Retrieved 1 February 2021.