Chevrolet M 300 to be affordable - report
Tashkent, Uzbekistan (UzDaily.com) --
Price of Chevrolet M 300 (Matiz) will be affordable, RIA Novosti reported quoting the source in the government in Uzbekistan.
As earlier reported, GM Uzbekistan will start to assemble Chevrolet M 300 in 2010. In the initial stage, the enterprise will produce 50,000 units of new model, of which 20,000 unit will be exported.
New concept car of A class is prototype of well-known Matiz, but their designs and technical characteristics are different. The new car also have comfortable model, the report said.
The report said new car will be affordable in price as over 50% of components are produced in Uzbekistan. It is planned to increase localization level to 51%.
The project due to loan of founders of GM Uzbekistan and own resources of Uzavtoprom.
GM Uzbekistan was founded on the bases of UzDaewoo Auto, which was created by the Government of Uzbekistan and South Korea’s Daewoo Motor on parity basis. The plant was commissioned in 1996.
The Government of Uzbekistan acquired 50% stake of Daewoo in the venture in 2005 and at the end of 2007, Uzavtoprom and General Motors (GM) signed agreement on foundation of GM Uzbekistan on the bases of UzDaewoo Auto. GM holds 25% stake in the venture.