A joint venture between Uzbekistan and Azerbaijan has initiated an effort to produce auto spare parts. The inauguration ceremony saw the Chairman of the Board of Azermash, Emin Akhundov, announcing that the project's third phase will focus on producing spare parts, media reports.
Presently, the assembly of cars constitutes the project's first stage, which is already underway as the construction of a joint plant for the production of vehicles has been launched. The second stage will focus on expanding the plant's production capacity. The common automobile plant is scheduled to commence operation in May 2025, with an investment value of 88mn manat ($51.7mn) and the creation of 1,200 new jobs.
The plant will incorporate advanced technologies sourced from countries counting the US, Italy, China, South Korea, and Uzbekistan. The plant's production capacity is anticipated to be 30,000 cars annually. Chevrolet brands, including Cobalt, Malibu, Tracker, and Equinox, will be manufactured on the site.
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