UPDATE 1-Russia GAZ venture to compete with Renault

Newswire

(Adds talks with Daimler, details, background) MOSCOW, July 25 (Reuters) - Russian car maker GAZ plans to create a $1 billion joint venture with General Motors , but is also looking at Daimler AG as a partner in the project, GAZ executives said on Friday. The venture will produce around 300,000 cars per year, allowing GAZ and its western partner to compete with French rival Renault in Russia, Leonid Dolgov, head of GAZ's light vehicles division, said. Foreign automobile giants have ...

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