vladimir putin

Renault F1's got itself a new sponsor: Lada. The Russian automaker's logo will appear on the R30 racing cars, as seen above, as well as the driver and crew uniforms. The announcement was made at a meeting held this Monday in Moscow, attended by Vladimir Putin, Carlos Ghosn, new Renault F1 pilot Vitaly Petrov, and a gaggle of other functionaries.

According to The Detroit News, Avtovaz, Russia's largest car maker and the home of Lada, is in line for government help. The Russian car industry is faring even more poorly than its counterpart in the U.S., with a 60% drop in sales being predicted. To assist Avtovaz with payments to creditors, a lifeline of more than 20 billion rubles is being discussed (upwards of $588 million USD), which would be close to Avtovaz's total debt to suppliers and banks.