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RUSSIA: Mazda signs MoU with Sollers for Russia joint venture

By Simon Warburton | 28 November 2011

Mazda has signed a Memorandum of Understanding with the intent to establish a joint venture production facility with manufacturing, distribution and servicing company, OJSC Sollers.

The proposed production facility will be in Vladivostok, in Russia's Far Eastern Federal District and supply several Mazda nameplates for the Russian market.

Russia is Mazda's second largest market in Europe and it says sales are rapidly increasing. Mazda sold around 28,000 units during the period from January to September 2011, a year-on-year increase of 77%.

A statement from Mazda noted: "In line with its mid term plan objectives, Mazda is expanding its business in emerging markets."