Avtovaz plans to produce 500,000 cars in 2024-2025

MOSCOW. Nov 15 (Interfax) - The board of directors of Avtovaz has confirmed the company's production plan for 2025 at 500,000 cars, and its investment program will total 45 billion rubles, the Russian government's press service said.

First Deputy Prime Minister Denis Manturov chaired a meeting of the company's board of directors.

"The investment program of Avtovaz for next year has been approved. According to the plan, it will exceed 45 billion rubles. The majority of these funds will go to design and development work for automobile projects, power units and also developing capacity. The confirmed 2025 production plan assumes output of 500,000 vehicles," it said.

The company plans to produce 500,000 cars in 2024 as well.

Avtovaz resolved a number of important issues around ensuring its products' technological sovereignty this year, the press service said.

"Avtovaz has around 1,650 suppliers today, more than 80% of which are Russian companies. The average level of localization for the Lada line of [car] models exceeds 4,500 points, which is the maximum in the industry," it said.