GAZ
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GAZ or Gorkovsky Avtomobilny Zavod (Russian: ГАЗ or Го́рьковский автомоби́льный заво́д, lit. ’Gorky Automobile Plant’) is a Russian automotive manufacturer located in Nizhny Novgorod, formerly known as Gorky (Горький) (1932–1990). It is the core subsidiary of GAZ Group Holding, which is itself part of Basic Element industrial group. JSC Russian Machines is the controlling shareholder in OAO GAZ.
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Recent developments Edit
In April 2019, GAZ asked for a $468 million bailout from the Russian government, saying that US sanctions on Oleg Deripaska and his assets put the company at risk of default.[27] On July 4, 2019, workers from GAZ protested against the US sanctions in front of the US embassy in Moscow as an opposition to measures they claim will lead to the bankruptcy of the company.[28][29]
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GAZ Volga
The Volga (Russian: Волга) is an Executive car that originated in the Soviet Union to replace the venerated GAZ Pobeda in 1956. Their role in serving the Soviet nomenklatura made them a contemporary cultural icon. Several generations of the car have been produced.
Despite the continuous modernisations, GAZ found it increasingly difficult to keep the ageing design competitive in a market economy. GAZ CEO Bo Andersson decided to discontinue the Volga range in 2010.[1]
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