GM-AvtoVAZ

From Infogalactic: the planetary knowledge core
Jump to: navigation, search
CJSC GM-AvtoVAZ
Native name
 ЗАО ГМ-АвтоВАЗ
Joint venture
Industry Automotive
Fate Bought out by AvtoVAZ
Successor Lada West Togliatti (AvtoVAZ's Niva products)
Founded 2 August 2001; 22 years ago (2 August 2001)
Defunct December 2019
Headquarters Tolyatti, Samara Oblast, Russia
Area served
 Commonwealth of Independent States
Products Chevrolet Niva
Production output
 32,909 vehicles (2017)[1]
Owners
Number of employees
 1,600 (2015)

GM-AvtoVAZ was a Russian joint venture between General Motors and AvtoVAZ set up in 2001. In 2002, it started producing the Chevrolet Niva, based on the Lada Niva, at its Tolyatti plant. Though both companies had an equal share of ownership, the venture was managed exclusively by General Motors.[2] The venture ended in December 2019, after it was wholly acquired by AvtoVAZ.

History

File:Chevrolet Niva Concept.JPG
Chevrolet Niva

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.[3]

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.[3]

In September 2012, the joint venture announced plans to expand by 2015, hiring an additional 1,400 employees and increasing its annual production capacity from 100,000 to 120,000 vehicles.[4]

Ownership

Voice of America report, showing operations inside the plant and an interview with a representative from GM Russia.

The joint venture was created with investment from General Motors ($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.[5]

In December 2019, AvtoVAZ acquired General Motors' stake in the venture, ending it.[6] The Chevrolet branding would still be used by AvtoVAZ on the Niva models until August 2020, before replacing it by Lada.[7]

Products

As of December 2014, the joint venture produced 571,852 vehicles since production at Tolyatti commenced in 2002.[8]

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ 3.0 3.1 Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

Retrieved from "https://infogalactic.com/w/index.php?title=GM-AvtoVAZ&oldid=727436021"