– The company has decided to transfer its entire stake in Mazda Sollers Manufacturing Rus LLC to PJSC Sollers, our joint venture partner. On October 24, 2022, we signed a share transfer agreement, the message says.

It is also known that Mazda will pay a symbolic amount equal to 1 euro for Mazda’s share in the Sollers joint venture. It is also reported that exiting the Russian market will leave Mazda Motor in a loss of 12 billion yen (about $82 million). Recall that the production site in Vladivostok, owned by Mazda Sollers Manufacturing Rus, produced crossovers CX-5, CX-9 and the Mazda6 sedan.

– Sollers PJSC will buy Mazda’s stake in the joint venture and plans to restart the plant next year with a new model line. All necessary clearances for the deal have already been received from the FAS and the government commission, – representatives of Sollers commented on the incident on the AvtoVzglyad portal.

Recall that last October, another Japanese automaker, Nissan Motor, announced that it was withdrawing from Russia and selling its assets of its subsidiary, Nissan Manufacturing Rus, to the FSUE NAMI subordinate to the Ministry of Industry and Trade. Also for one euro. This decision caused Nissan a loss of about 100 billion yen – about 686 million dollars.

– The company has decided to transfer its entire stake in Mazda Sollers Manufacturing Rus LLC to PJSC Sollers, our joint venture partner. On October 24, 2022, we signed a share transfer agreement, the message says.

It is also known that Mazda will pay a symbolic amount equal to 1 euro for Mazda’s share in the Sollers joint venture. It is also reported that exiting the Russian market will leave Mazda Motor in a loss of 12 billion yen (about $82 million). Recall that the production site in Vladivostok, owned by Mazda Sollers Manufacturing Rus, produced crossovers CX-5, CX-9 and the Mazda6 sedan.

– Sollers PJSC will buy Mazda’s stake in the joint venture and plans to restart the plant next year with a new model line. All necessary clearances for the deal have already been received from the FAS and the government commission, – representatives of Sollers commented on the incident on the AvtoVzglyad portal.

Recall that last October, another Japanese automaker, Nissan Motor, announced that it was withdrawing from Russia and selling its assets of its subsidiary, Nissan Manufacturing Rus, to the FSUE NAMI subordinate to the Ministry of Industry and Trade. Also for one euro. This decision caused Nissan a loss of about 100 billion yen – about 686 million dollars.