"We will not sell (a stake)," AvtoVAZ Chairman Vladimir Artyakov told reporters. Russian media reported earlier that Renault wanted a stake of 25 percent plus one share in AvtoVAZ to set up a joint venture that would produce 450,000 Logan cars a year in Russia.
"We are now considering technology cooperation," said Artyakov, who headed AvtoVAZ last December when Russia's state arms trader Rosoboronexport gained control over the plant in a move widely seen as a Kremlin grab of strategic assets.
Renault already produces cars in Russia at its Avtoframos plant in Moscow.
The French car maker said last month it planned to strengthen its position on Russia's booming market and would boost its local output to 80,000 cars over a couple of years.
Renault expects its Russian output to exceed 60,000 cars by the end of this year.