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Chevrolet Niva Will Soon Become A Lada: GM Withdrew From The & Nbsp; JV With & Nbsp; AvtoVAZ

Chevrolet Niva Will Soon Become A Lada: GM Withdrew From The & Nbsp; JV With & Nbsp; AvtoVAZ
Chevrolet Niva Will Soon Become A Lada: GM Withdrew From The & Nbsp; JV With & Nbsp; AvtoVAZ
Video: Chevrolet Niva Will Soon Become A Lada: GM Withdrew From The & Nbsp; JV With & Nbsp; AvtoVAZ
Video: Chevrolet Niva начали продавать в дилерских центрах LADA 2023, February
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AvtoVAZ signed an agreement with the American auto concern General Motors, according to which it buys out 50% of the shares of the joint venture GM-AvtoVAZ. The Togliatti manufacturer sent a request for approval of the transaction by the Federal Antimonopoly Service (FAS) on November 8, 2019.

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Here's what is known about the deal:

  • the enterprise will become a fully affiliated company of AvtoVAZ;
  • the GM-AvtoVAZ plant will continue producing and selling off-road vehicles under the Chevrolet brand for some time, but later they will be transferred under the Lada brand;
  • the deal will not affect employees of any of the parties, they will continue to work as usual;
  • contracts with suppliers and dealers during the transition period also remain unchanged;
  • in the future, GM-AvtoVAZ will be renamed.

The joint venture was established in 2001. Then, due to financial difficulties, AvtoVAZ transferred the license for the production of the VAZ-2123 model to an American manufacturer. Now the plant is assembling the first generation Chevrolet Niv SUV, but a new generation of the model has already been developed. For 11 months of 2019, Chevrolet sold 19.4 thousand Shnivs on the Russian market, which is 24.5% less than a year ago. The financial issues of the deal were not disclosed.

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