The governor of the Samara region, Dmitry Azarov, said that by the end of May, the domestic automobile concern AvtoVAZ could be transferred under Russian control.

“I expect that all the formalities will be settled in May and the enterprise will be under reliable management, Russian management,” Dmitry Azarov said.

Earlier, the Minister of Industry and Trade of the Russian Federation Denis Manturov said that the French Renault Group, which owns 68% of AvtoVAZ shares, will transfer them to Russia with the possibility of repurchase within five to six years.

Presumably, Renault’s share will be transferred to the Federal State Unitary Enterprise “Research Automobile and Automotive Institute” (NAMI), which will subsequently appoint a new management of the enterprise. The decision will be made together with the state corporation Rostec, another shareholder of AvtoVAZ.

Dmitry Azarov also said that AvtoVAZ had agreed with Chinese companies on the supply of components, but due to the lockdown in China, they could not be produced and delivered on time .