Economy31/05/2008GM Uzbekistan Increases Car Production By 23% In Jan-Apr 2008
Specifically, a breakdown of the types of vehicles produced reveals 29,561 units of Nexia (growth by 20.9 per cent), 22,406 Matiz (25.4 per cent), 7,970 Damas (46.1 per cent), 495 Captiva, 574 Epica and 9 Tacuma, Interfax reported, quoting the State Statistics Committee of Uzbekistan.
UzDaewoo Auto increased automobile output by 22.7 per cent in 2007 in comparison with 2006.
UzDaewoo Auto joint-stock company was established by the government of Uzbekistan and South Korea’s Daewoo Motor. In 1996 the company put into operation a plant in the Andijan region with production capacity of 200,000 automobiles per year.
In October 2005, Uzbekistan redeemed 50 per cent of Daewoo Motor stock for UzDaewoo Auto JV. The shareholder of 100 per cent UzDaewoo Auto stock was Uzavtoprom open joint-stock company.
In October 2007, Uzavtoprom and General Motors signed agreement on the establishment of GM Uzbekistan JV on the basis of UzDaewoo Auto on production and realization of Chevrolet cars. GM holds 25 per cent of the JV stock.
GM Uzbekistan has a productive capacity of 250,000 cars per year, outputting three Chevrolet models: Captiva, Epica and Tacuma, produced by large component assembly.