GM-AvtoVAZ suspends works on new Chevrolet Niva project - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

GM-AvtoVAZ suspends works on new Chevrolet Niva project

MOSCOW, Feb 15 (PRIME) -- GM-AvtoVAZ, a joint venture of U.S. manufacturer General Motors and RussiaТs largest carmaker AvtoVAZ, has suspended development of a new generation of Chevrolet Niva cars, a representative of the company told PRIME on Thursday.

УCurrently, we have suspended works on the project for new generation of Chevrolet Niva due to several objective reasons. On request of one of the shareholders, the GM-AvotVAZ company has adjusted its business plan. Shareholders are yet to make a final decision about the projectТs support,Ф the person said.

Initially, the company planned to launch production of new Chevrolet Niva cars in early 2017, but GM-AvtoVAZ suspended construction of a plant near the city of Togliatti in March 2015. The plant was to produce up to 120,000 new cars per year. In early 2016, the government of the Samara Region reached an agreement to open a credit line for the company, but owners of GM-AvtoVAZ did not provide any guarantees, and the company did not take out the credit.

End

15.02.2018 14:51
 
 
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