June 21, 2019

AVTOVAZ and the Skolkovo Foundation are developing partnership

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21st of June 2019, JSC ''AVTOVAZ'' and the ''Skolkovo'' Foundation have signed a Memorandum of Understanding, aimed at the future cooperation and exchange of the experience in the field of innovative startups, relevant competencies and resources to promote the development of innovative solutions. The document provides for researching of the opportunity to open a Partner center of AVTOVAZ in the ''Skolkovo''.

The MoU was signed by Selcuk Cura, AVTOVAZ Executive Vice President for Engineering, and Mikhail Tykuchinsky, the Director for Development of the Energy Efficiency Cluster of the Skolkovo Foundation. The event was attended by Nicolas Maure, Senior Vice President, Chairman of the Eurasia region of Groupe Renault and AVTOVAZ BoD Chairman, and Yves Caracatzanis, AVTOVAZ President and CEO.

Nicolas Maure: ''Our cooperation is aimed at mutually beneficial effect between initiatives and innovations of the Skolkovo Foundation and the experience and competences of AVTOVAZ and Renault Engineering teams. I am sure that the results of this synergy will be effective and will have a positive impact on our customers, the technology of the LADA and the Renault cars, and develop our engineering teams in Russia.''

Mikhail Tykuchinsky: ''We have more than 400 technologies which can be used by AVTOVAZ in its both product and manufacturing scopes. We hope that the cooperation with Russian small innovative businesses and conclusion of partnerships with them will allow AVTOVAZ to make a qualitative leap in the production localization''.

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