Mazda Motor Corporation has signed a Memorandum of Understanding with OJSC Sollers with the intent of establi shing a joint - venture production facility in Russia. The proposed production facility is to be established in Vladivostok, in Russia’s Far Eastern Federal District, and will supply several Mazda models to the Russian market. Sollers is one of Russia's lead ing automotive companies, engaged in the production, distribution and servicing of vehicles.
Russia is Mazda’s second largest market in Europe and sales are rapidly increasing here.
Mazda sold approximately 28,000 units during the period from January thro ugh September 2011, a year -on-year increase of approximately 77 percent. This is in line with Mazda’s mid-term plan objectives, which includes expanding its business in emerging markets.