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The report in focus

Automotive Industry In Russia. Results of 2019. Prospects

Automotive Industry In Russia. Results of 2019. Prospects

Exit date 02.06.2020

Format PDF, 55 стр.

Price 960 eur.

report contains information on automotive vehicle production in Russia, particularly passenger cars and commercial vehicles

02 june more info

Analytics

Russian dealers of Ford began sales of updated Mondeo

Ford Mondeo sedan has received a technological upgrade aimed at the safety improving of the car and improving of the intelligent driver assistance systems. People can order updated Ford Mondeo at all official Ford dealers in Russia.

05 julymore info

Infographics

What characteristics of SUV models do Russians prefer?

News

AvtoVAZ bought a GM stake in a joint venture GM-AvtoVAZ

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AvtoVAZ signed an agreement with General Motors on the repurchase of a 50% stake in Togliatti joint venture GM-AvtoVAZ from an American company. The joint venture will become a 100% affiliate of the AvtoVAZ Group.

The parties did not disclose the financial details of the transaction, AvtoVAZ press service reported. Under the agreement, the plant owned by the joint venture will continue to manufacture and sell Niva cars under the Chevrolet brand for a certain period of time, and in the future the car will receive LADA badges.

Changes are not planned for employees of both companies. Existing contracts with Niva suppliers and dealerships remain unchanged during the transition period. Also in the future, GM-AvtoVAZ will be renamed. As the President and CEO of AvtoVAZ, Yves Karakatzanis, under the agreement, AvtoVAZ will receive the second classic SUV in the line of cars. The offer will be organically complemented by the legendary 4x4 and support the further development of AvtoVAZ.

Recall that GM-AvtoVAZ dates back to June 27th, 2001, when the representatives of General Motors, AvtoVAZ and the European Bank for Reconstruction and Development signed a general framework agreement on the creation of a joint venture. The total investment in the project reached 338.2 million dollars. In September 2012, the European Bank for Reconstruction and Development left the board of GM-AVTOVAZ shareholders, its shares were bought out by General Motors (represented by GM Auslandzproject GmbH) and AVTOVAZ, while each share in the JV authorized capital increased to 50%.

Tags: avtovaz, russia
12.12.19 AUTOSTAT
Source: www.autostat.ru