RUSSIA: AvtoVAZ declines to buy GM's Bochum engine plant
Russia's largest car manufacturer AvtoVAZ has declined to buy a GM engine plant in the German city of Bochum, it said on Friday.
Prime-Tass noted that GM and AvtoVAZ earlier were in talks on setting up a joint venture to produce engines and GM later proposed that AvtoVAZ buy the engine plant instead.
AvtoVAZ plans to stop buying engines from other companies and to produce engines for all of its existing models but this does not apply to new models. It plans to choose later between its own engines or those produced by other companies for new car models on case-by-case basis.