Thursday, December 06, 2007
GM bids for stake in Lada
General Motors is bidding for a stake in AvtoVaz, the markers of Lada, as part of an effort to expand its presence in the rapidly growing Russian market.
A GM spokesman confirmed a bid had been recently submitted for AvtoVaz, which is Russia's largest car maker, but could not confirm how big the stake was.
Russia is developing into a major market for GM, which has a 6.6% share of the Russian market in 2006.
GM already has a joint venture with AvtoVaz at a production plant in Togliatti. GM also has a plaint in Kaliningrad and is building a third plant near St Petersburg.
DATED: 06.12.07
FEED: AM
A GM spokesman confirmed a bid had been recently submitted for AvtoVaz, which is Russia's largest car maker, but could not confirm how big the stake was.
Russia is developing into a major market for GM, which has a 6.6% share of the Russian market in 2006.
GM already has a joint venture with AvtoVaz at a production plant in Togliatti. GM also has a plaint in Kaliningrad and is building a third plant near St Petersburg.
DATED: 06.12.07
FEED: AM
