Mazda to sell Russian business to joint-venture partner | Autocar

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Mazda to sell Russian business to joint-venture partner | Autocar
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For a nominal fee, Mazda is selling its half of the joint-venture that allows it to manufacture cars in Eastern Russia:

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Mazda is expected to lose approximately ¥JPY 12 billion because of its exit from the joint venture.

A spokesperson for Sollers said the sale had already been approved and it is preparing to restart production at the Vladivostok plant in 2023 – albeit with its own models.reported that the sale could be closed within the coming weeks, citing a source said to be familiar with the matter. Mazda and Sollers began producing cars in Vladivostok in 2012 and previously made around 50,000 units at the facility annually.

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