Ford Sollers JV Announced for Russia
This will include Ford and Sollers local production facilities in Vsevolozhsk (St. Petersburg region) and in the Republic of Tatarstan, and will manufacture a range of Ford passenger cars and light commercial vehicles.
The joint venture will have access to the global range of Ford's latest products delivered under its One Ford plan, while Sollers will bring its manufacturing capabilities, knowledge of the Russian market, experience in distribution and working with the Russian supply base, to the table.
In addition to vehicle production, the Ford Sollers proposed joint venture will produce engines; operate a stamping facility that will provide a higher level of local parts content for Ford vehicles built in Russia; and establish research and development activities. It also will be responsible for the import and distribution of Ford brand products, parts and accessories in Russia.
“The benefits provided by the proposed joint venture and the new Industrial Assembly policy will be key enablers to build the Ford brand in Russia and create a profitably growing business. It also will help to strengthen the Russian automotive industry and its local supply base,” said Stephen Odell, chairman and CEO, Ford of Europe.
“We are inspired by the opportunity to work with Ford,” said Vadim Shvetsov, general director of Sollers. “We are confident that our mutual efforts on the development of manufacturing facilities, new product launches and localization of parts content will ensure success for our strategy, and a leading position for the future joint venture company on the Russian market.”
Ford Sollers is scheduled to start operations by the end of this year.