AvtoZAZ (Russian: АвтоЗАЗ) started in 1975 as Industrial Assosiation (производственное объединение), а holding that incorporated ZAZ, MeMZ, Ilyichyevsk Automobile Parts Plant (Ukrainian: Іллічівський завод автоагрегатів) and a number of other automobile-production facilities in Lutzk (LuAZ ) and Kherson. In 1990s, it was privatized into a joint-stock company, although 100% of shares stayed with the government.
In 1998 AvtoZAZ formed joint venture with by Daewoo Motors, named AvtoZAZ-Daewoo (АвтоЗАЗ-ДЭУ). ZAZ was included in the deal as 50% share on the behalf of AvtoZAZ. Following the bankruptcy of Daewoo Motors in 2001, General Motors rejected to acquire AutoZAZ-Daewoo; the Daewoo part was later bought out by a Swiss investment company in 2003.
Since 2000s, the state-owned 82% of AvtoZAZ shares were trusted to Ukrainian Automobile Corporation (UkrAVTO); in 2002, the corporation bought these shares and merged AvtoZAZ with ZAZ.
