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Sollers, Mazda Motor to set up joint venture

July 26, 2012, 2:30 UTC+3
The Russian Federal Antimonopoly Service has allowed Sollers automobile company to buy a 50-percent stake of Mazda Motor Manufacturing Rus
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MOSCOW, July 26 (Itar-Tass) — The Russian Federal Antimonopoly Service has allowed Sollers automobile company to buy a 50-percent stake of Mazda Motor Manufacturing Rus, its report said on Wednesday.

In April 2012 Sollers and Mazda Motor Corp. (Japan) agreed to set up on a parity basis a joint enterprise for the production of vehicles. Under the plans of the sides, production will be launched in Vladivostok before the end of this year.

The plant will produce Mazda CX-5 crossovers and Mazda 6 sedans, as well as car models of Sollers for their further sales on the Russian market. Initially it will produce 50,000 vehicles a year, and then the number of manufactured cars will grow to 70,000.

Sollers brings together Sollers-Naberezhnye Chelny, the Ulyanovsk Automobile Plant, the Zavolzhye Motor Plant and Sollers-Far East. It produces UAZ vehicles, as well as Isuzu and SsangYong car models. In autumn 2011, Sollers and Ford (United States) launched a joint venture.

The main shareholder of Sollers is its Director General Vadim Shvetsov.

 

 

 

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