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Russian auto maker, GAZ, became a partner with General Motors in Italian VM Motori. This way both companies can produce the diesel engines of the highest class from the world famous Italian manufacturer.
GAZ CEO, Sergey Zenozin, is happy about this partnership and thinks it is a great opportunity for their company, because GAZ received an access to “world-class diesel engine design and manufacturing”.
Due to high gasoline prices many Russian customers prefer vehicles with any alternative fuel and diesel is one of them. The demand on this kind of engines grows quickly and with the help of the Italian manufacturer, GAZ can produce the highest quality product of what people need.
VM Motori licensed production will be used in Gazelle and Maxus vans and trucks assembled by GAZ.
Governments of different countries give loans to auto manufacturers this year to support their work and stop serious unemployment. Russian authorities also want to help the major automaker, GAZ Group, to rise from heavy debts. The government gives $180.2 million to build a diesel engine plant in Yaroslavl, 155 miles northeast from Moscow.
Since American government does not cherish the heads of General Motors, Russian GAZ Group decided to offer one of them a good position. GM executive, Bo Andersson has already accepted the position of the chairman of GAZ board, but the final settings will be done on June 29 when company’s general annual meeting will take place and the list of major candidates will be discussed.
Russian number-one auto manufacturer, GAZ, is planning to purchase Opel, the brand that was one of the three General Motors planned to sell. At this moment GAZ is talking with its main creditors, Russia’s Sberbank and Canadian auto parts maker Magna, whether they will have enough funds for the project.
The Swedish automaker Volvo designed a new diesel engine which will be a part of Volvo S80. It is claimed to be much better than its predecessor.
Daimler AG has announced that is sold 5.34% of the stake in Tata Motors. The German company has raised more than $400 million for the shares it did not want to hold any more.