GM, AvtoVAZ launch $332 mln Russian joint venture

Newswire

MOSCOW, Sept 23 (Reuters) - The world's largest automaker, General Motors Corp , and Russian car maker AvtoVAZ , launched a $332 million joint venture on Monday to produce the Chevy-Niva sport utility vehicle, GM said. GM-AvtoVAZ, located in Togliatti on the Volga River in central Russia, plans to produce 450 cars this year and 35,000 by 2003. The factory's installed capacity is 75,000 cars a year. By 2005, the venture plans to export 30,000 vehicles to Western Europe, with future ...

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