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GM bids for stake in Lada

General Motors is bidding for a stake in AvtoVaz, the markers of Lada, as part of an effort to expand its presence in the rapidly growing Russian market.

A GM spokesman confirmed a bid had been recently submitted for AvtoVaz, which is Russia's largest car maker, but could not confirm how big the stake was.

Russia is developing into a major market for GM, which has a 6.6% share of the Russian market in 2006.

GM already has a joint venture with AvtoVaz at a production plant in Togliatti. GM also has a plaint in Kaliningrad and is building a third plant near St Petersburg.

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