Sollers in talks to buy Mazda from Russian joint venture

MOSCOW—Russian automaker Sollers is in talks to acquire a stake in a Japanese company in a Russian joint venture with Mazda, Sollers said on Monday that Mazda was preparing to scale back its operations in Russia. .

Mazda, which sold 30,000 cars in Russia last year, announced in March that it would stop exporting parts to a venture company’s Vladivostok plant and stop production as soon as inventory runs out. The Nikkei newspaper on Saturday first reported the meeting with Sollers.

Sollers said he was in talks with Mazda to stop car production in Vladivostok and buy Mazda’s stake in the venture.

“At the same time, Sollers Auto already has plans to reopen its factories for the production of other car brands and negotiations on this matter are currently in the final stages,” Sollers said in a statement.

It does not indicate a timeframe for stopping production at the Vladivostok plant.

A Mazda spokeswoman said the company was in talks to end vehicle production in Vladivostok, but did not give details.

Mazda’s Japanese rival Toyota Motor Corporation said on Friday it had decided to end vehicle production in Russia because supplies of key materials and parts were interrupted.

Many Russian factories have halted production and laid off workers since Russia sent troops to Ukraine on February 24 due to shortages of high-tech equipment due to sanctions and the outflow of Western manufacturers. There is

Written by Satoshi Sugiyama