Tashkent, Uzbekistan, March 11
By Demir Azizov- Trend:
GM Uzbekistan, the former UzDaewooAuto, plans to start mass production and export of T-250 cars (Chevrolet Aveo) in late May-early June of 2016, said a statement of Uzavtosanoat company, which units Uzbekistan's automotive industry.
"T-250 will replace the Nexia model," said the statement.
Investment for mass production of the T-250 vehicles is $104.2 million, design capacity - 73,600 cars a year, according to Uzbekistan's republican investment program. GM Uzbekistan will itself provide the funding.
GM Uzbekistan, formerly known as UzDaewooAuto, was created in 1996 on a parity basis by Uzbekistan and South Korean Daewoo Motors.
In 2005, Uzbekistan acquired Daewoo's shares in UzDaewooAuto. In 2007, Uzavtoprom (Uzbek Association of Automotive Industry Enterprises) and the U.S.-based General Motors signed an agreement to establish the GM Uzbekistan with an authorized capital of $266.7 million.