Uzbekistan, Tashkent, Nov. 15 / Trend , D.Azizov /
JV GM Uzbekistan (formerly UzDaewooAuto, Asaka). Mass production of business-class sedans with the working title of GS-VEM will be launched in the third quarter of 2012, a source in government circles told Trend on Tuesday
Production of a new sedan model is included in the list of projects localization of finished products and components for 2011-2013, approved by President Islam Karimov.
According to the decree, by the end of 2012 at GM Uzbekistan is scheduled to release up to eight thousand units of new models, and in 2013 - to reach the level of 80 thousand units.
According to the programme, GM Uzbekistan will produce 8,000 cars of new model for $52.39 million in 2012 and 80,000 cars for $523.357 million in 2013. Technical details of the new model are not reported.
It is assumed that the design capacity of the new production will be 100,000 cars annually, of which about 50,000 vehicles is planned to be exported.
The project financing will be carried out by Uzavtoprom.
GM Uzbekistan is planning to invest$136 million in a production sedan GS-VEM on the basis of existing models Nexia in 2011-2013.