General Motors Co. and Russian automotive manufacturer GAZ Group, part of Oleg Deripaska’s ‘Basic Element Group’, have signed an agreement for the contract assembly of the new Chevrolet Aveo small car at GAZ’s facility in Nizhniy Novgorod, Russia.
Production is scheduled to begin in mid-2012. About 30,000 Aveo sedans and hatchbacks are expected to be assembled annually. The vehicles will be sold on the Russian market.
Jim Bovenzi, President and Managing Director of GM Russia and CIS, said: “General Motors is focused on strengthening its market position in Russia. By leveraging GAZ’s established resources, we will address the demand for affordable vehicles in the sub-compact class while continuing the localization of our product line-up in Russia.”
Bo Andersson, President/CEO of GAZ Group, said: “The cooperation with GM will strengthen quality and technology of every production capacity of GAZ. The decision taken enables GAZ to effectively use the investments in the passenger car facility and to contribute the qualified workforce in the project with GM.”
The new Aveo hatchback made its debut at the 2010 Paris Motor Show. It was followed by the new Aveo sedan, which was introduced at last month’s 2011 North American International Auto Show in Detroit. Both models are being rolled out by GM in markets around the world. Next-generation Chevrolet Aveo is an important global product that is a segment leader in design, handling, quality and space.
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