GM-AvtoVAZ
 |
|
| Industry |
|
|---|---|
| Founded | 2 August 2001 |
| Headquarters | Tolyatti, Samara Oblast, Russia |
|
Area served
|
Commonwealth of Independent States |
|
Key people
|
Bo Andersson (President) Jeffrey Glover (CEO) |
| Products | Chevrolet Niva |
| Owner |
AvtoVAZ (50%) General Motors (50%) |
|
Number of employees
|
1,600 (2015) |
| Website | gm-avtovaz |
GM-AvtoVAZ is a joint venture in Russia between General Motors and AvtoVAZ set up in 2001 and began producing the Chevrolet Niva, based on the Lada Niva, at its factory in Tolyatti from 2002.
The joint venture was created with investment from GM ($99.1m, 41.61%), AvtoVAZ ($99.1m, 41.61%) and the European Bank for Reconstruction and Development ($40m, 16,78%, plus a loan facility for $100 million). In September 2012 GM and Avtovaz purchased EBRD's share, turning the joint venture into a 50/50 relationship.
In 2004 the joint venture briefly produced the Chevrolet Viva, based on the 1998 Opel Astra saloon, but after low sales of only 5,000 the model was dropped.
The joint venture reached difficulties and production stoppages for a fortnight in February 2006 when AvtoVAZ was taken over by Rosoboronexport, the Russian state-owned arms-export agency, and a disagreement between the new owners and GM lead to stoppages of the supply of engines and other components.
The joint venture announced plans in September 2012 to expand by 2015, with an additional 1400 staff and increasing its annual production capacity from 100,000 to 120,000 vehicles.
As of December 2014, the joint venture has produced 571,852 vehicles since production at Tolyatti commenced in 2002.
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Wikipedia