Russian carmaker Sollers has signed a memorandum of understanding (MoU) with global giant Ford Motor Company under which the parties intend to launch a new 50:50-owned joint venture (JV) called Ford Sollers for the production and distribution of Ford vehicles in Russia.
The proposed JV 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.
In addition to vehicle production, the proposed Ford Sollers JV will produce engines and will operate a stamping facility that will provide a higher share of local parts in Ford vehicles built in Russia, and will establish research and development activities. It also will be responsible for the import and distribution of Ford brand products, parts and accessories in Russia.
Ford Sollers is scheduled to start operations by the end of this year.