Speaking at a press conference, Murodov said preparations for the privatization of the two companies had begun two years ago, with international consulting firm Alvarez & Marsal selected through a competitive process to advise on the transaction.
He said the firm had been chosen for its experience in major deals in the global automotive industry and the expertise of its specialists.
“We are receiving proposals today. Investors from the United States, South Korea and China have expressed interest. However, this interest does not mean a decision has been made to sell the assets to any particular company. We must not send such a signal, as it could negatively affect competition. We will hold an open international tender,” Murodov said.
According to the agency chief, a framework for organizing the sale is currently being developed. The next steps will include selecting an international consultant, conducting an international valuation of the assets and carrying out an audit.
Once these preparations are complete, investment opportunities will be advertised to potential buyers through international and local media.
Privatization process delayed
A presidential decree issued in April 2025 envisaged hiring international consultants by the end of that year to prepare for the privatization of the state’s 99.7% stake in UzAuto Motors and its entire 100% stake in UzAuto Powertrain. Public tenders were expected to be announced in the first quarter of 2026, but the process was delayed for reasons that have not been publicly explained.
The 2026 privatization program, adopted in August, also called for accelerating the sale of the state’s stakes in both companies. Materials covering their investment prospects, production capacity and financial condition are to be prepared within the next four months.
General Motors will have no preferential right
The potential sale comes as the 10-year agreement between Uzavtosanoat and General Motors, signed in October 2017, approaches its expiration in 2027.
Under the agreement, UzAuto Motors obtained the right to manufacture GM models and use the Chevrolet brand and related technologies. The approaching expiration of the deal has prompted speculation that a potential buyer could be among the companies already working with the US automaker.
