FSO set to sign licences for two new car models and start production in 2006

"We are in the final phase of negotiations," said Natalia Biej of Ukrainian AwtoZAZ, FSO's investor. She went on to say that earlier announcements are still valid and the production of new cars will start by September or October 2006 at the latest. It is still unsure whether FSO will purchase one or two licenses. Even if the decision will be to sign two licenses it will do so with only one producer, the name of which company representatives did not want to disclose. Rumors are that the most likely models to produced in the Zeran-based factory will be Chevrolets. According to the agreement, the Ukrainian investor has to produce 42,500 cars this year, a number which is to grow to 150,000 in 2009. (Parkiet, p. 8) A.K.