JV Systems

History

2023: Sale of the plant to immigrants from the Efko group

Immigrants from the Efko group bought an unfinished car body factory from AvtoVAZ. The corresponding record of the transaction appeared in the Unified State Register of Legal Entities (Unified State Register of Legal Entities) at the end of April 2023.

According to Interfax with reference to this register, control over 100% of the shares of JV Systems LLC was received by Togliatti Invest LLC with an authorized capital of 10 thousand rubles, registered in Togliatti on March 24.

Immigrants from the Efko group bought an unfinished car body factory from AvtoVAZ

The agency clarifies that the co-owners of the buying company are Ilya Pronin (90%) and Olga Gudkova (10%). Pronin heads the Biryuch scientific and educational center established by the Efko group, located in the Belgorod region, and was also the sole owner of IC Biryuch, which has been liquidated since the end of March. Until 2019, Gudkova was a co-owner of 40% of the shares of Evdakovo LLC, the Efko fat and fat plant in the Voronezh region^[1]

2013-2019

The unfinished car body welding plant for the Chevrolet Niva was previously owned by the GM-AvtoVAZ joint venture, its construction began in 2013. The production project was curtailed after the departure of the American General Motors from the Russian Federation. In 2019, AvtoVAZ bought a 50% stake in the joint venture from GM and renamed it Lada Zapad Togliatti JSC. The production of Chevrolet Niva was transferred to the main site of AvtoVAZ, the model was renamed Lada Niva Travel.

The total area of ​ ​ JV Systems is 200 thousand square meters, the plant is designed to produce 120 thousand bodies per year, and the amount of investment in the project was estimated at $209 million. It was assumed that the first restyled Nivs would leave the conveyors in 2015, but the company involved in the construction of the facility was accused of fraud, after which GM-Avtovaz terminated the contract with the contractor, and later General Motors completely sold its stake in JV AvtoVAZ and left the Russian market.

Notes