Sollers to launch production of new LCV line at Ford Sollers JV plant by year's end

MOSCOW. Oct 27 (Interfax) - Russian automaker Sollers will launch production of a new line of light commercial vehicles (LCV) under its own brand at the plant of its joint venture with Ford by the end of this year, the Industry and Trade Ministry said.

"Under signed changes to the SPIC [special investment contract], Sollers will already launch production of a new line of LCVs under its own brand, with high localization obligations, at the end of this year," the ministry's press said.

"Therefore, after the departure of Ford, the market will soon be offered new Russian-made products," the ministry said.

The U.S. automaker officially announced its exit from the venture with Sollers on Wednesday.