Sollers might resume automobile production at Vladivostok plant in Aug - authorities
VLADIVOSTOK. Jan 31 (Interfax) - Russian automotive group Sollers might resume vehicle production at its plant in Vladivostok in August, Primorye Governor Oleg Kozhemyako said.
"This year we're seeing [large] amounts of major businesses, an increase in government defense contracts and the relaunch of the line of [former joint venture] Mazda Sollers in August," Kozhemyako said at a meeting on the region's social and economic development on Monday.
The Mazda Sollers plant halted production in May 2022. Mazda said that the agreement to transfer its stake in the joint venture to Sollers was signed on October 24, 2022. The stake was sold for a symbolic price of 1 euro, with an option to buy it back within three years, the company said. Mazda estimated its loss in connection with the deal at JPY12 billion, or a little over $82 million.
Sollers has announced plans to start using the plant to assemble automobiles from other brands in 2023, but it has not said which ones.
The Mazda Sollers joint venture, which began assembling automobiles in 2012, produced about 29,000 vehicles in 2021.