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The z in the circle is the trademark of which manufacturer?

The red flag Zastava is from the former Yugoslavia. It entered China in the 1980s and is now rare. The trademarks are as follows

OPEL is called Opel in mainland China and Opel in Taiwan. Opel of Germany is a subsidiary of General Motors of the United States and a window of General Motors in Europe. It was founded by Adam Opel, also known as Adam Opel (Opel), and has a history of more than 100 years. Opel has entered China since 1993. Sales in China have been stopped. See the trademark below: