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NEWS

Uzbekistan to manufacture Chevrolet Aveo

en.trend.az
11 March 2016

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.