The Director of the State Assets Management Agency (SAMA), Sohibjon Murodov, announced at a press conference on October 8 that there is interest in the privatization of UzAuto Motors and UzAuto Motors Powertrain from companies in the USA, South Korea, and China.
Responding to a question about a possible acquisition of UzAuto Motors by a Chinese investor, Murodov confirmed the receipt of proposals, noting the interest of American, South Korean, and Chinese firms. However, the head of SAMA strongly urged the public not to conclude that the enterprise is ready for sale to a specific buyer.
He emphasized that such assumptions could negatively affect competition, creating a false impression among other participants about the future conditions of the auctions. The agency head stated that the process is not aimed at one specific company but will proceed in the format of open international tenders.
Murodov did not disclose the names of the interested companies nor specify whether the received applications are official offers or merely preliminary inquiries.
Current Stage of Privatization
Preparations for the sale of UzAuto Motors and UzAuto Motors Powertrain began approximately two years ago. In 2025, the international consulting firm Alvarez & Marsal was engaged to conduct pre-privatization preparations on a competitive basis.
Murodov explained that this company was chosen because, unlike other international consultants, it had experience participating in major deals in the global automotive market, possessed deep industry knowledge, and had the necessary specialists.
Currently, the agency is developing a detailed privatization scenario, which includes the chronology and timelines for various stages. The next step is planned to be the selection of an international consultant responsible for organizing the tenders, followed by an international asset valuation and due diligence.
Subsequently, SAMA plans to announce the sale through various international and local media. Once investors demonstrate their interest, their vetting will begin, followed by non-binding, and then binding offers. The final stage will be negotiations with those investors who present the most favorable terms.
Murodov added that during negotiations, not only the proposed price but also state requirements, including current licensing conditions, their validity periods, and alliance agreement provisions, will be taken into account. He assured that all conditions would be disclosed, and information on the progress of the sale would be published regularly.
Nevertheless, the head of SAMA did not provide information on the exact date of the start of the tenders, the amount the state expects to receive from the sale, or whether both enterprises will be sold simultaneously or separately.
Objects of Sale
The objects of sale are 99.7% of the shares of UzAuto Motors and 100% of the shares of UzAuto Motors Powertrain. UzAuto Motors specializes in producing vehicles under the Chevrolet brand, and its facilities are located in the Andijan and Khorezm regions. UzAuto Motors Powertrain has been producing engines and other power units for the automotive industry in the Sergeli district of Tashkent since 2008.
In September, SAMA informed Spot that the privatization would be carried out on a competitive basis, and any investor meeting the legislative requirements could participate. The agency particularly emphasized that no individual companies, including the American General Motors, would be granted privileges or preferential rights to purchase the asset.
The final sales strategy, including the possibility of selling both enterprises as one package, will be determined jointly with the international consultant.
General Motors License Issue
One of the key issues related to the upcoming privatization is the future of existing agreements with the American General Motors. According to the UzAuto Motors memorandum for investors dated November 2025, the alliance agreement between 'Uzavtosanoat' and General Motors, concluded in October 2017, is perpetual. However, the technological license from GM is valid from 2017 to 2027, and the document states that the continuation of the current cooperation and its terms is not guaranteed.
The General Motors license grants the company the right to produce certain models of the American concern, use corresponding trademarks and technologies, and sell vehicles in agreed markets. This license is non-exclusive and is not transferable.
In an interview with Daryo, published shortly before the press conference, Murodov mentioned that the possibility of extending licensing agreements with GM is being considered within the framework of the privatization strategy development process, noting that this is one of the directions of this strategy.
Historical Context
The planning of the privatization of UzAuto Motors has been discussed at the state level for several years. In April 2022, the president issued an instruction regarding the need to place up to 10% of UzAuto Motors shares on the domestic stock market and develop a strategy for selling the remaining part of the enterprise and UzAuto Motors Powertrain to strategic investors.
In April 2026, President Shavkat Mirziyoyev was presented with a report on the progress of preparing to privatize several large state assets, including UzAuto Motors and associated enterprises such as 'Navoiazot' and thermal power plants. At the meeting, it was decided to accelerate the privatization processes and reduce state participation in the economy.
Earlier, in November 2025, Uzbekistan and the USA signed multi-billion dollar agreements that include the import of auto components worth $5 billion and discussions on the participation of American companies in the privatization of UzAuto Motors. It was planned to put the company that produces and sells Chevrolet cars up for tender in the first quarter of 2026.