General Motors bids for stake in Russian car-maker
General Motors is also opening a new plant in St Petersburg, which is expected to start production in 2008.
Russian sales of foreign-made cars have soared by more than 60% this year, taking market share from the Russian auto-manufacturer. It's been trying to fight back by overhauling its range and increasing its ties with international manufacturers.
It has longstanding ties with General Motors and is taking part in a joint venture to produce Chevrolet Nivas in the Russian city of Togliatti.