Russia GAZ to create $1 bln venture with GM


MOSCOW, July 25 (Reuters) - Russian car maker GAZ plans to create a $1 billion joint venture with General Motors , the director of GAZ's light vehicles unit Leonid Dolgov said on Friday. The venture will produce around 300,000 cars per year, allowing the partners to compete with French rival Renault in Russia, Europe's largest car market. (Reporting by Anton Doroshev, writing by Simon Shuster, editing by Gleb Bryanski)

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