OREANDA-NEWS. On November 27, 2008 GM Uzbekistan, an Uzbek-US car maker, launched a serial production of Chevrolet Lacetti cars. Chevrolet Lacetti, which was produced today, became the millionth car of the plant.

The plant installed new equipments to start serial production of Chevrolet Lacetti. GM Uzbekistan, former UzDaewoo Auto, and General Motors Daewoo and Technology (GM DAT) signed an agreement on supply of machinery and equipment for organization of serial production of Lacetti cars for USD 41.5 million.

In line with the feasibility study, the cost of project is USD 47.7 million and the capacity of the new line will be 30,000 cars per year, of which 5,000 will be exported.

The project is financed due to interest-free loan of Uzavtosanoat for USD 47.7 million, issued to GM Uzbekistan for six years.

It is expected that Asaka-based GM Uzbekistan will produce 3,000 Lacetti cars in 2008 and reach designed capacity by 2011.

In August 2003, UzDaewoo Auto launched assembling of Daewoo Lacetti and all components are imported from abroad in line with the contract between UzDaewoo Auto and GM DAT. The plant assembled Lacetti cars till the end of 2007. It produced 6,345 Lacetti cars during this period and almost all of them were realized in internal market.

General Motors and Uzavtoprom completed process of creation of GM Uzbekistan on the base of UzDaewoo Auto in the end of March 2008. The charter capital of new venture is USD 266.7 million.

General Motors owns 25% shares and plus one share in the new venture and it can increase its share up to 40%. Currently, Uzavtosanoat possesses 75% shares in GM Uzbekistan.

Uzavtoprom and Daewoo Motor created UzDaewoo Auto on parity terms with the charter capital of USD 200 million. The car plant worth USD 650 million has been commissioned in 1996 in Asaka, Andijan province. The capacity of the plant is 200,000 cars per year.

Uzavtoprom purchased 50% shares of Daewoo Motor in the venture for USD 110 million. UzDaewoo Auto increase car output by 22.7% year-on-year in 2007 to 171,809 cars, of which 109,500 were exported. It is expected that the plant will reach its design capacity this year.