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At the 2012 Society of Automotive Engineers (SAE) World Congress in April, about 12,000 engineers from around the globe were in Detroit, Michigan to talk about where the auto industry is going.  In two words…getting connected.

“When we chose ‘get connected’ for this year’s theme, it was not meant in just the obvious way of connecting electric vehicles to the grid.

•    Renault-Nissan and state corporation Russian Technologies will form joint venture to accelerate product launches and technology transfer to AVTOVAZ, Russia’s largest carmaker.
•    Renault-Nissan will invest about US$750 million, and Russian Technologies will favorably restructure debt as they form the joint venture.
•    Renault-Nissan will get a majority stake in the joint venture, which will control AVTOVAZ; transaction is expected to be complete in 2014.
    
PARIS – May 3, 2012 -- The Renault-Nissan Alliance and state corporation Russian Technologies have agreed to create a joint venture and give the Renault-Nissan Alliance an indirect majority stake in AVTOVAZ, according to a new memorandum of understanding.