MOSCOW, April 29 (Itar-Tass) —— The Russian company Sollers and Japan’s Mazda Motor Corporation have signed an agreement on the establishment on an equal footing of a joint venture to produce cars in Vladivostok. It will begin operation in the second half of 2012.
The joint venture will produce the new crossover Mazda CX-5, the Mazda 6 sedan, as well as Sollers models for the Russian market. At first, the output will be 50 thousand cars a year. Later it may be increased to 70 thousand.
Sollers includes Sollers-Naberezhnyie Chelny, the Ulyanovsk Automobile Plant, the Zavolzhsky engine plant and Sollers-Far East. The company produces UAZ, Isuzu and SsangYong cars.
Sollers' main shareholder is its CEO Vadim Shvetsov.