SOLLERS JOINT VENTURE

SOLLERS JOINT VENTURE

Mazda and Sollers Sign Memorandum of Understanding Aimed at Establishing Engine Plant at Vladivostok Joint Venture

Mazda Motor Corporation and OJSC Sollers announced that they have agreed with the Government of the Russian Federation to begin assessing the establishment of an engine production plant at their joint venture Mazda Sollers Manufacturing Rus (MSMR), located in Vladivostok in the Primorsky region of Russia’s Far Eastern Federal District, and signed an memorandum of understanding to that effect.

At a ceremony attended by Ambassador Extraordinary and Plenipotentiary of Japan to Russia Chikahito Harada, Mazda’s Representative Director, President and CEO Masamichi Kogai, Sollers’ CEO Vadim Shvetsov and First Deputy Minister of Industry and Trade of the Russian Federation Gleb Nikitin signed the memorandum of understanding at a ceremony held in Vladivostok today. President of Russian Federation Vladimir Putin specially congratulated participants of signing ceremony.

“Since operations started in October 2012, MSMR has produced around 80,000 Mazda cars which have gone out to people all over the country. The high quality vehicles produced here are acclaimed by customers and have become a driving force in the expansion of the Mazda brand throughout Russia.” said Mazda’s Representative Director, President and CEO Masamichi Kogai upon signing.

“We are pleased to have been able to make a contribution to this region by creating employment and helping to develop a culture of Monotsukuri, or manufacturing. This success has been possible thanks not only to our great partnership with Sollers, but also to the continued support of the Russian Government, the Primorsky region and the Government of Japan. Going forward, Mazda hopes to contribute to the further development of the automotive industry in this region.”

Sollers CEO Vadim Shvetsov commented, “We are delighted to be expanding our collaboration with Mazda. Making use of their vast knowledge and experience in vehicle manufacturing and our unique regional infrastructure and employee team, it will be an honour together to take the automotive manufacturing industry in this region to the next level.”

Mazda and Sollers will conduct talks with the Government of the Russian Federation with Federation with the aim of concluding an official contract before the end of the year.

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