Russia's AvtoVAZ plans to launch production of electric cars in 2024

AvtoVAZ is Russia's largest carmaker and is controlled by the French Renault Group.

The company plans to invest 1 billion euros in the development and production of electric cars.

AvtoVAZ, Russia's largest carmaker, plans to launch production of electric cars in 2024, the company announced on Tuesday. The company plans to invest 1 billion euros in the development and production of electric cars, which will be based on a new platform. AvtoVAZ is controlled by the French Renault Group, which has been investing heavily in electric car technology.

The Russian government has been pushing carmakers to develop and produce electric cars, as part of its efforts to reduce the country's dependence on oil and gas. The government has set a target of having 10% of all cars sold in Russia be electric by 2030.

AvtoVAZ's plans to launch production of electric cars in 2024 are a significant step towards meeting this target. The company's investment in electric car technology is also a sign of confidence in the future of electric cars in Russia.