UzAuto Motors

JSC «UzAuto Motors» (UzAuto Motors JSC) — the largest automobile manufacturer in Uzbekistan and one of the system-forming enterprises of the national economy. The company produces and sells passenger cars and spare parts under the Chevrolet brand under a licensing agreement with General Motors and holds a dominant position in the domestic car market.

History

The enterprise traces its history from a factory in Asaka, which operated under the name UzDaewooAuto, and later as GM Uzbekistan — a joint venture with General Motors. In 2019, the state bought out GM's stake, and the company was renamed UzAuto Motors, continuing to produce Chevrolet vehicles under license.

Operations

The main production facilities are located in Asaka (Andijan Region) and Pitnak (Khorezm Region). The company sells automobiles in the domestic market and exports them to CIS countries. Sales in Uzbekistan largely rely on auto financing through partner banks.

Shareholders

The controlling stake is owned by the state through JSC «Uzbekauto». An insignificant portion of shares is in free circulation. Ordinary shares of the company are traded on the Republican Stock Exchange «Tashkent» under the ticker UZMT.

Bonds

UzAuto Motors is one of the first corporate issuers in Uzbekistan to enter the international debt market: in 2021, the company placed Eurobonds on the London Stock Exchange. The issuer has credit ratings from international agencies and continues to attract debt financing in external markets.