Sollers to launch production of two LCV models in Tatarstan under its own brand in 2022
VLADIVOSTOK. Sept 7 (Interfax) - PJSC Sollers Auto, whose Sollers Ford LLC joint venture with U.S. Ford in Russia was suspended this past spring, plans to start manufacturing two new LCV models under the Sollers brand by the end of the year in Yelabuga, Tatarstan, based at its wholly owned Sollers Alabuga LLC subsidiary.
Russia's Deputy Prime Minister and Industry and Trade Minister, Denis Manturov, and CEO and co-owner of PJSC Sollers Auto, Nikolai Sobolev, on Wednesday signed an additional agreement regarding this matter to the Sollers special investment contract at the Eastern Economic Forum 2022, an Interfax correspondent reported.
Sollers Alabuga LLC is a 100% subsidiary of the Sollers Auto group, which, according to the Unified State Register of Legal Entities, was registered in the Tatarstan special economic zone (SEZ) of Alabuga in early July. Ford Transit models were previously manufactured there at the facilities of the Sollers Ford joint venture, with the latter suspending the models' release in early March. Adil Shirinov is Sollers Alabuga general director, and is head of Sollers Ford and UAZ, one of the shareholders of Sollers Auto.
According to the group, production of two LCV models will be launched at the Yelabuga facilities as part of the new project, specifically a cab-over model and a conventional cab model with gross weight of 2.5 tonnes to 4.5 tonnes. Production of the new line is planned for launch before the end of the year, and the LCV models will be available on the Russian market under the Sollers brand. The group announced the launch the day ahead of the Eastern Economic Forum 2022.
The automaker notes that over 5.5 billion rubles overall will be invested in the new project, when accounting for the investments of Sollers Alabuga LLC and the investments of supplier companies. Meantime, Sollers Auto's total investment commitments as per the special investment contract will increase from 7 billion rubles to 9.9 billion rubles.