Investors from the United States, South Korea and China have expressed interest in buying UzAuto Motors, State Assets Management Agency Director Sokhibjon Murodov said at a news conference Thursday.
“Offers are coming in,” Murodov said. “But that interest does not mean a decision has been made to sell the asset to any particular company. That signal must not go out, because it could hurt competition. We will hold an open, international sale.”
He said a scenario for organizing the sales is being developed. An international consultant will be selected next, the assets will be valued internationally and an audit will be carried out. Offers for investors will then be announced through international and local media, he said.
Murodov said practical work on privatizing UzAuto Motors and UzAuto Powertrain began two years ago. International consulting firm Alvarez & Marsal was engaged through a tender, he said, citing its role in major deals in the global auto industry and its experienced specialists.
The agency has said General Motors will receive no preferential or priority right to buy the asset.
Earlier, an April 2025 presidential decre called for engaging international consultants by the end of that year to privatize UzAuto Motors (99.7 percent) and UzAuto Powertrain (100 percent), with public sales to be announced in the first quarter of 2026. The process was delayed for unknown reasons.
An August privatization program for 2026 again called for speeding up sales of the state stakes. Under a 10-year agreement signed in October 2017 and expiring in 2027, UzAuto Motors received a license to produce General Motors models and use the Chevrolet brand and technologies.
