Tashkent, Uzbekistan, April 17
By Demir Azizov - Trend:
GM Uzbekistan joint venture (JV) (former UzDaewooAuto JSC, Andijan oblast, Uzbekistan) increased car production by 15.7 percent up to 52,782 units in January-March 2014 compared to the same period of 2013, a source in Uzbekistan's government circles told Trend on April 15.
The plant has produced 11,613 Nexia cars (a 9.9 percent decrease), 2,830 Matiz cars (a 58.9 percent decrease), 3,369 Damas cars (a 25 percent decrease), 273 Lacetti cars (a 94.4 percent decrease), 1,778 Captiva cars (a 4.1-fold increase), 6,496 Spark cars (a 5.7 percent increase), 1,048 Malibu cars (a 2.2-fold increase), and 14,318 Cobalt cars (a 52.1 percent increase) since early 2014.
Moreover, some 11,017 Gentra cars were produced in January-March. The company started its production in November 2013. It also produced 40 Orlando cars. It began its production in March this year.
UzDaewooAuto was established in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor.
Uzbekistan bought Daewoo's shares in the joint venture in 2005.
Uzavtoprom and General Motors signed an agreement to create the GM Uzbekistan joint venture with an authorized fund worth $266.7 million on the basis of GM Uzbekistan plant in 2007. The U.S side has a 25 percent stake plus one share in the company with an option to increase its stake to 40 percent. Some 75 percent of the shares belong to Uzavtoprom JSC.
Currently, GM Uzbekistan JV produces nine models of cars.
In 2013, GM Uzbekistan increased production by 4.5 percent up to 246,031 units compared to 2012.
translated by NH
edited by CN