Mazda Signs Memorandum of Understanding with Sollers to Establish Joint Venture Production Facility in Russia
HIROSHIMA, Japan—Mazda Motor Corporation has signed a Memorandum of Understanding with the intent to establish a joint venture production facility with OJSC Sollers. The proposed production facility is to be established in Vladivostok, in Russia's Far Eastern Federal District and supply several Mazda nameplates for the Russian market. Sollers is one of Russia's leading automotive companies, engaged in the production, distribution and servicing of vehicles.
Russia is Mazda's second largest market in Europe and sales are rapidly increasing. Mazda sold approximately 28,000 units during the period from January through September 2011, a year-on-year increase of approximately 77 percent.
In line with its mid term plan objectives, Mazda is expanding its business in emerging markets.