Tashkent, Uzbekistan, July 8
By Demir Azizov- Trend:
GM Uzbekistan car factory (formerly UzDEUavto JSC in Asaka, Andijan region) will start to equip cars with terminals of the navigation system Era GLONASS in late 2014, the representative of the "Uzavtoprom" JSC told Trend.
The project on the installation of terminals worth $2.8 million is included in the list of priority investment projects in Uzbekistan this year, the source said. The installation of "ERA-GLONASS" terminals will be carried out within the requirements of the countries - importers of automobile production.
"UzDEUavto" JSC with the projected capacity of 200,000 cars per year was established in 1996 on a parity basis by the Uzbek Government and South Korea's Daewoo Motor.
Uzbekistan bought Daewoo shares in the joint venture in 2005. In 2007, "Uzavtoprom" and General Motors signed agreement to establish on the basis of factory the GM Uzbekistan with authorized capital of $266.7 million, which the American side owns 25 percent share plus one share in the enterprise with the possibility of increasing its stake to 40 percent. Currently, "Uzavtoprom" JSC possesses 75 percent of the shares.
Currently "GM Uzbekistan" JV produces nine models of cars, including three models Chevrolet - Captiva, Malibu and Orlando - on the SKD technologies and the others - under full production.
In 2013, GM Uzbekistan increased production by 4.4 percent - up to 246.031 compared to 2012.
Edited by CN