Intro: With the participation of the Uzbekistan government and the South Korean Daewoo Motors a local assembly plant was established in August, 1992. The joint venture built a $658 million automobile assembling plant in Andijan Province, with an annual capacity of 200,000 cars. The company was launched in July 1996.
The plant was not included in the GM-Daewoo agreement. In May, 2005 state-owned Uzavtoprom took over 100 per cent of shares and in October struck a deal with GM on extending assembly licenses until 2010.
For years, UzDaewoo's Nexia was the most popular foreign-car in Russia. Recently UzDaewoo commenced exports to many Central Asian countries. In 2005 over 100,000 cars were built - about half of them for export. |
