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April 02, 2008

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'General Motors Uzbekistan' Joint Venture Established

Tashkent, Uzbekistan – General Motors Corp. and UzAvtoSanoat have established a joint venture which will play a defining role both in the automotive industry of Uzbekistan and in the continued, rapid global growth of GM’s largest brand, Chevrolet. As announced at a press conference in Tashkent today, UzAvtoSanoat holds the majority stake in the new joint venture called General Motors Uzbekistan with GM holding 25 percent plus one share, with the option of increasing that share in the future.

"As a key element of our growth strategy, GM has moved aggressively in recent years to establish a leadership position in the world's fastest growing markets,” said Rick Wagoner, GM Chairman and CEO. “We are confident that General Motors Uzbekistan will make a strong contribution to the growth and development of the Uzbek auto industry and economy. The joint venture will also support GM and Chevrolet’s continued growth in Central and Eastern Europe.”

Mr. U. Rozukulov, Chairman of SC UzAvtoSanoat, said, “We are proud to be the first new member of the GM family in the company’s centenary year, bringing modern technology and training for our workforce, more employment opportunities, and more customer choice. The new joint venture gives us the opportunity to introduce high quality products, meeting international standards.”

The General Motors Uzbekistan joint venture will build Chevrolet cars and SUVs for distribution through a network of more than 60 domestic dealerships. Three Chevrolet models, the Captiva, Epica and Tacuma are already being assembled at the joint venture’s plant in Asaka, Andijan province, 350 km from the capital. The Chevrolet Lacetti will join the line-up later this year. Other models from Chevrolet’s global portfolio are going to follow over the next few years, utilizing the plant’s full annual manufacturing capacity of 250,000. Selected models will be exported to neighbouring CIS markets.

UzAvtoSanoat and General Motors will work side by side on the joint venture’s board of management, sharing key positions throughout the new company in areas including manufacturing, engineering, quality, purchasing, finance, human resources, product planning, information technology and legal, as well as sales, marketing and aftersales.

Photo: GM

(March 20, 2008)

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