Automobiles: Mazda eyes car plant in Russia

TOKYO: Japanese carmaker Mazda said on Saturday that it had agreed with Russian auto giant Sollers to consider forming a joint venture to produce cars in the Russian Far East city of Vladivostok. The proposed plant will supply “several Mazda nameplates” for consumers in Russia - Mazda’s second largest market in Europe - as part of its medium-term expansion plans in emerging markets, the company said in a statement. Mazda’s sales in Russia in the first nine months this year jumped 77% year on year to about 28,000 units, the statement said. Sollers is said to be one of Russia’s leading automotive companies engaged in the production, distribution and servicing of vehicles.

Published in The Express Tribune, November 27^th, 2011.