Russian car giant AvtoVAZ is launching sales of its new Lada Largus minivan, the automaker said on Monday.
The Largus is the first large-scale joint project between AvtoVAZ, Russia's largest car maker, and the Renault-Nissan alliance. AvtoVAZ's Togliatti plant in the Volga area will build up to 350,000 cars based on the B0 platform per year under the Lada, Renault and Nissan brand names.
Total investment in the Largus project totaled 400 million euros ($525.7 million). AvtoVAZ and Nissan invested 25 percent each, and Renault 50 percent.
Passenger versions of the Lada Largus will be produced with seven and five seats and a van version.
The production of the new minivan was launched at AvtoVAZ's Togliatti plant in early April by then-Prime Minister Vladimir Putin.
“AvtoVAZ has an excellent future. Today it occupies 25 percent of the market in Russia and I am convinced it will remain at that level,” Putin said at the launch ceremony.
He said 169 billion rubles ($5.8 billion) will be invested in production development at the company by 2020.
