Ruben Vardanyan exits Russia’s auto industry

Ruben Vardanyan, who is being held in custody in Baku, has completely withdrawn from Russia’s automotive business by selling his stake in the “Atom” electric car project, Kommersant reported.

Vardanyan’s 25% stake in Voskhod LLC, the main shareholder of Kama, was transferred back to the company itself.

The remaining co-owners of Voskhod are KAMAZ CEO Sergey Kogogin (37.5%) and Spektr LLC (37.5%).

Vardanyan had already ceased to be a co-owner of KAMAZ in autumn 2024.

N.Tebrizli