GM-AvtoVAZ is a joint venture in Russia between
General Motors and
AvtoVAZ set up in 2001 and began producing the
Chevrolet Niva, based on the Lada Niva, at its factory in
Tolyatti from 2002. The joint venture was created with investment from GM ($99.1m, 41.61%), AvtoVAZ ($99.1m, 41.61%) and the
European Bank for Reconstruction and Development ($40m, 16,78%, plus a loan facility for $100 million). In September 2012 GM and Avtovaz purchased EBRD's share, turning the joint venture into a 50/50 relationship.