PARIS - Renault and the city of Moscow have finalized their joint venture to begin building Megane Classic sedans after July. Planned output will be 10,000 units in 1999, rising to 120,000 vehicles in 2005 after a second vehicle is added.
Renault will invest $350 million in the 50-50 venture, to be called OAO Avtoframos. Assembly will be in a refurbished building in the complex where Moskvich cars are built. Moscow controls Moskvich.