Russia said goodbye to Mazda

According to the report of the International Economic Group of Fars News Agency, quoted by Russia Elium; Japanese carmaker Mazda has decided to stop its activities in Russia, saying it will sell its stake in a joint venture at the Vladivostok plant in Russia’s Far East to Solars Auto (a Russian automotive group).

Mazda announced in a statement today: The company has decided to transfer its entire stake in Mazda Sollers Manufacturing Rus to Sollers, our project partner. The share transfer agreement was signed on October 24, 2022 (November 2, 1401).

Mazda will lose 12 billion yen (about 82 million dollars) as a result of leaving the Russian market.

Sollers Auto, in turn, confirmed the reports about the transfer of assets and announced that it is going to start production of new car models in 2023.

The Japanese car manufacturer Mazda, which sold 30,000 cars in Russia last year, announced last March that the export of parts to this factory will end and production will also stop when the stock runs out.

Following Russia’s military operations in Ukraine, Western countries and the United States imposed extensive sanctions against the country, so that many foreign investors and global brands tried to leave Russia.

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