AVTOVAZ has suspended the financing of its projects

AVTOVAZ has suspended the financing of its projects


 

Rambler.- As believed by the representatives of Avtovaz, investments in the new projects will be frozen until 30 June. The order on the decision has already been signed at the beginning of April, when the chairman of thecompany made decisions to overcome the difficult economic situation.

As understood from the document, the funding for the main development works for the company will not be completed. The projects on the following models will be affected by the decision: Niva, which shifted to the company following the collapse of the joint venture with GM, Vesta and Largus.

Avtovaz still maintains plans to demonstrate the new versions of the automobiles in Autumn 2020. However, car enthusiasts will have to wait for the upgrade of Lada Vesta for a bit longer.

As stated by the company, the restyling on a list of vehicles will bring neither any cardinal changes on the construction of the automobiles, nor any alterations on the exterior looks.

Preparations are being made for the modernisation of the bodywork and the interior of Lada Vesta and on Largus only the front part and a few interior elements will change, according to Avtovaz press-office.