According to Russian analytics agency Autostat, Russian state-owned auto manufacturer Avtovaz has moved its holiday shutdown to an earlier date. Accordingly, the company has stopped production as of yesterday, May 29, until June 19 due to the disruption in the supply of components.
The company had previously planned to suspend operations on June 24. Avtovaz plans to increase supply from local producers or allies in order to substitute imports during this period and ensure uninterrupted production processes in the second half of this year.
French auto giant Renault had acquired a controlling stake in the company in 2016 and made it one of its subsidiaries. After Russia’s invasion of Ukraine last year, Renault became one of the companies to withdraw its operations from Russia.
Volkswagen, Michelin, Continental, Shell, Schneider Electric are among the Western companies that have also agreed to sell assets in Russia.