business and economy

Azia Avto to broaden partnerships

(SRI) - The Kazakh car producer Azia Avtois to seal its agreement with Russia’s AvtoVAZ to sell a blocking share to the latter on September 22 in Aktau at a forum of Kazakh and Russian border regions’ chiefs, Azia Avto president Erzhan Mandiev said in an interview with Interfax.

Mandiev also said that the company plans to start manufacturing other types of cars as part of its new venture. Azia Avto will have two new partners, Nissan and Renault, after it signs the strategic partnership agreement with AvtoVAZ.

Yet, Mandiev does not expect the existing partnerships with Czech Skoda and U.S. Chevrolet to suffer.

“In spite of our widely announced deal with AvtoVaz we are determined to maintain the relations with other partners, General Motors and Skoda Auto. Thus, in September we are planning to launch the production of a new generation model of the Octavia cars, next year we may start assembling Superb model cars. By the end of the year we intend to commence the production of six or seven new models by General Motors, namely Cadillac and Hummer,” he said in an interview with Interfax.

Additionally, Azia Avto also plans to start assembling new models of Russian Lada cars.

Share/Save/Bookmark

Related articles

Discussion

No comments for “Azia Avto to broaden partnerships”

Post a comment

ANALYSIS: Seven Rivers to cross into venture capital
November 28, 2008
ANALYSIS: Mixed prospects for M&A in Kazakhstan
November 24, 2008
ANALYSIS: Kazakh government funding puts better light on gloomy banking sector
November 21, 2008
ANALYSIS: Sturgeon Fund: Fishing for returns around the Caspian
November 19, 2008
ANALYSIS: Troika Dialog makes strategic move into Kazakhstan
November 9, 2008
ANALYSIS: Kazakhstan gambles on Kapchagay development
October 22, 2008
ANALYSIS: Despite the “sudden stop” Kazakhstan won’t be calling on the IMF for help
October 22, 2008
ANALYSIS: Is Kazakhstan disengaging from Georgia?
October 16, 2008
ANALYSIS: No bottom yet for Kazakh housing market
October 14, 2008
ANALYSIS: Kazakh bankers’ take on crisis: “Been there, done that”
October 6, 2008
ANALYSIS: Kazyna fund carves out greater role in Kazakh, CIS economies
October 2, 2008
ANALYSIS: Tighter banking regulation will lead to further consolidation of the sector
September 30, 2008
ANALYSIS: Turbulence ahead for Kazakh carrier Air Astana
September 27, 2008
ANALYSIS: Kazakh market drops as investors turn tail
September 23, 2008
ANALYSIS: Foreign banks seize the moment in Kazakhstan
September 12, 2008

Silk Road Intelligencer

 

September 2008
M T W T F S S
« Aug   Oct »
1234567
891011121314
15161718192021
22232425262728
2930  
Business New Europe