General Motors-Daewoo Auto and Technology (GMDAT) is negotiating to take a stake in UzDaewooAuto, Uzbekistan, Reuters reported quoting South Korean media.
UzDaewooAuto, located in Asaka city of Andijan region, was set up on a parity basis in 1992 by state-owned Uzbek automaker Uzavtoprom and South Korean automaker Daewoo Motor. In May 2005, Uzavtoprom bought Daewoo’s stake for US$110 million. In October 2005, UzDaewooAuto extended a component supply agreement with General Motors until 2010.
Uzbekistan’s State Statistics Committee said Uzbek automaker produced 82,876 cars in January-June 2007, up 30% on the year.
UzDaewooAuto produced 41,232 Nexia sedans in January-June, up 17.2% on the year, 30,230 Matiz subcompact cars, up 41.1%, 9,700 Damas minivans, up 37.5%, and 1,714 Lacetti cars, up from about 85 a year ago.
The company aims to make 180,000 vehicles this year, 29% more than in 2006. In 2008, the company intends to reach its planned capacity of 200,000 cars.
It is expected that the plant will start production of new cars from 1 January 2008. President of Uzbekistan Islam Karimov signed a resolution to organize construction of new model of cars at UzDaewooAuto.
The document said the Uzbek car maker will organize production of sedan Chevrolet Epica (Daewoo Toska), truck Chvrolet Captiva (Daewoo Winstrom), mini-van Chevrolet Takuma (Daewoo Rezzo).
The resolution said that UzDaewooAuto will produce 1,008 units of Epica, 696 units of Captiva and 888 units of Takuma.
Currently, UzDaewooAuto produces Daewoo Nexia, Daewoo Damas, Daewoo Matiz and Daewoo Laccetti.