Russia’s largest car manufacturer AvtoVAZ and the U.S.’ General Motors Corporation (GM), the world’s largest automobile manufacturer, are considering the establishment of a joint venture for engine production, Vladimir Guba, general designer at AvtoVAZ, told reporters Thursday.
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Guba said that the joint venture would be based in Tolyatti, in the Samara Region, and produce 1600 and 1800 cc engines, reported PRIME-TASS.
AvtoVAZ and General Motors already operate a joint venture GM-AvtoVAZ in Tolyatti, which produces Chevrolet-Niva sport utility vehicles. It was established in 2002.
GM, the world’s largest automobile manufacturer, and AvtoVAZ each have a 41.5% stake in GM-AvtoVAZ, while the European Bank owns the remaining 17% stake for Reconstruction and Development (EBRD).
In 2004, GM-AvtoVAZ plans to make about 60,000 Chevrolet-Niva SUVs.
