Isuzu Motors has no contract with Russian automaker Severstal-Auto and no specific plans to start production in Russia, Russian Biznes daily reported on Friday, citing Isuzu spokesman Ioko Tadashi.
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According to a Prime-Tass report Severstal-Auto on 13 February said it had signed a licence agreement to assemble Isuzu’s NQR 71 medium-duty trucks and CXZ 51 heavy-duty trucks.
All rights for the assembly and sale of Isuzu trucks and buses in the Commonwealth of Independent States (CIS), including Russia, belong to a joint venture between Isuzu Motors, trading house Sojitz Holding and Ukraine’s Bogdan automaker, Biznes reported.
The three companies signed an agreement to establish a joint venture called Avtomobilnaya Kompaniya Isuzu Ukraina (Isuzu Ukraine Automobile Company), earlier this week.
Bogdan holds a 50% stake in the joint venture, Isuzu a 30% stake, and Sojitz Holding a 20% stake.
The joint venture is expected to export Isuzu NQR 71 trucks and buses produced in Ukraine to Russia, Bogdan spokesman Sergei Krasulya said.
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By GlobalDataTadashi also confirmed this, Biznes said.
Severstal-Auto was surprised to learn that Isuzu Motors had no plans to assemble its trucks in Russia at Severstal-Auto’s facilities. Severstal-Auto has a contract to assemble Isuzu trucks, which was signed not directly with Isuzu Motors but with Sojitz Holdings, the company said.
Isuzu Motors plans to divide operations between Severstal-Auto and Bogdan, Severstal-Auto said, the daily reported.
Severstal-Auto is expected to produce trucks, while Bogdan is expected to produce buses, Severstal-Auto said.
However, Bogdan denied there was such a plan.
Representatives of the Moscow office of Sojitz Holding were not available for comment, Biznes reported.
According to Prime-Tass, Severstal-Auto, also known as Severstal-Avto, was established in March 2002. The company controls Russian compact car producer ZMA, Ulyanovsk Automobile Plant (UAZ) and the Zavolzhsky Engine Plant (ZMZ).
