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Sollers JSC

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(Redirected from SeverstalAvto)
Sollers PJSC
Company typePublic (ПAO)
MCX: SVAV
IndustryAutomotive
Founded2002; 22 years ago (2002)
HeadquartersMoscow, Russia
Key people
Vadim Shvetsov (Chairman)
ProductsAutomobiles, commercial vehicles, heavy machinery
Revenue$613 million[1] (2017)
$33.8 million[2] (2016)
$57.9 million[3] (2023)
Total assets$614 million[2] (2016)
Total equity$268 million[2] (2016)
Websitesollers-auto.com

Sollers, formerly known as OAO Severstal-Auto, is a Russian company holding controlling blocks of shares of OAO Ulyanovsk Automobile Works (UAZ), Zavolzhye Motor Works (ZMZ) and OAO ZMA. The enterprises of Severstal-Auto are well-known automobile brands and occupy stable positions in their market segments.

History

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Since 2005, SeverstalAvto has been the owner of the ZMA (Russian: ЗМА, Завод малолитражных автомобилей) car factory in Naberezhnye Chelny, Russia. The factory was previously owned in part by KamAZ and was one of the production bases for the Lada Oka minicar. SeverstalAvto is listed in RTS Index.

Production of the Oka was due to be phased out in 2006 after 17 years and replaced by a number of Fiat models such as the Albea and Doblò.

February 11, 2010 an agreement was signed to establish on the basis of the plant "Sollers-Naberezhnye Chelny" joint venture to develop and produce cars between "Sollers" and the Italian company Fiat. It was planned that in the event of the maximum load plant will produce up to 500 thousand cars of different classes in the year. It was expected that the implementation of this project the Government of Russia can provide a loan of 2.1 billion euros.[4][5] A year later, the parties decided to abandon this project and instead "Sollers" agreed to form a joint venture to produce cars with a Ford - Ford Sollers.[6] It is expected that by the American company in the joint venture will be made to the Russian trading arm of Ford Motor Rus and Vsevolozhsk plant, from the "Sollers" - production capacity. Distribution of shares in the joint venture will be 50 to 50. It is assumed that the company will produce cars under the brand Ford.[7]

In 2012, the joint venture started production car Ford Transit, in 2013 Ford Explorer.

March 1, 2011 was announced in Beijing s joint venture "Sollers-Bussan" between "Sollers" and the Japanese group Mitsui & Co. car manufacturing Toyota. Proportion of the parties in the new plant to be distributed at a ratio of 50% to 50%. The spring of 2012 at new sites will begin production of SUVs Toyota Land Cruiser Prado.[8]

April 27, 2012 "Sollers" and Mazda Motor Corporation signed an agreement to establish a 50:50 joint venture called Mazda-Sollers Manufacturing Rus(MSMR) in Vladivostok. The venture begun operations in the second half of 2012. The plant produces crossover Mazda CX-5, sedan Mazda6, as well as under other brands of cars. The production capacity of 50 thousand vehicles per year, and will be further increased to 70 thousand . annual.[9] In October 2016, Mazda signed an agreement with the Russian government to build engine production in Vladivostok.[10]

In September 2018, MSMR started producing engines at its newly built engine plant. The Russian President Vladimir Putin and the Japanese Prime Minister Shinzo Abe attended at the opening ceremony of the plant.[11]

According to OICA statistics, Sollers produced 57,171 vehicles in 2015.[12]

In 2021, Sollers started to assemble a luxury car for civilian and presidential use at the Ford Sollers plant. Called the Aurus Senat, the 4.4 litre V8 limousine was developed by the Central Scientific Research Automobile and Automotive Engines Institute (NAMI) in Moscow, and comes in two versions, the S600 and L700 (with this latter model intended for state officials).[13][14][15][16][17]

On 1 March 2022, Ford Motor Company announced that it was suspending its joint venture with Sollers, in response to the 2022 Russian invasion of Ukraine.[18]

Mazda Motor Corporation sold a stake in a joint venture in Vladivostok to Sollers PJSC Auto for 1 euro. The agreement was signed on October 24, 2022.[19]

Structure

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Current Production

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Former Production

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References

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  1. ^ "Рейтинг крупнейших компаний России по объему реализации продукции". Expert RA. Archived from the original on 28 October 2018. Retrieved 28 October 2018.
  2. ^ a b c http://sollers-auto.com/common/img/uploaded/investor_relations/Sollers__IFRS__2016_eng.pdf. {{cite web}}: Missing or empty |title= (help)
  3. ^ https://sollers-auto.com/upload/iblock/2cf/sfg43bz0e1c2vlspha9h3zdsz0fq3w3y.pdf. {{cite web}}: Missing or empty |title= (help)
  4. ^ "В Russian creation of a second after the "AvtoVAZ", production of passenger".
  5. ^ "Путин: Government will consider a loan of 2.1 billion euros for". Archived from the original on 2014-07-14. Retrieved 2010-02-11.
  6. ^ "Sollers создаст совместное производство вместе с Ford после разрыва с Fiat". Газета.Ru.
  7. ^ ""Я научился сначала слушать, а потом говорить", — Стивен Оделл, президент и гендиректор Ford of Europe" ["I learned to listen first and then speak" - Stephen Odell, President and CEO of Ford of Europe]. Archived from the original on 2012-07-18. Retrieved 2011-03-28.
  8. ^ Sollers and Mitsui announced a joint venture in Vladivostok / / rian.ru
  9. ^ "Sollers and Mazda have signed an agreement to establish a joint venture to produce cars". sollers-auto.com. Archived from the original on 2012-06-25. Retrieved 2012-05-23.
  10. ^ "Mazda adds engine production at its Russian plant".
  11. ^ "mazda-sollers-has-opened-an-engine-factory-in-vladivostok".
  12. ^ "World Ranking Of Manufacturers" (PDF). OICA. Retrieved 9 July 2017.
  13. ^ "Sollers". RusAutoNews.Com.
  14. ^ "The first Aurus Senat automobiles will be ready in May 2021". September 21, 2020.
  15. ^ "Russia's Aurus Senat Luxury Limousine Officially Enters Production". June 1, 2021.
  16. ^ "Russia starts series production of Aurus luxury cars". TASS.
  17. ^ "Russia begins production of high-end sedan promoted by Putin". Reuters. May 31, 2021.
  18. ^ Hall, Kalea (2022-03-01). "Ford suspends joint-venture operation in Russia". Detroit News. Retrieved 1 March 2022.
  19. ^ "Mazda передаст "Соллерсу" долю в дальневосточном СП, признав убыток в $82 млн". www.interfax.ru. 2022-11-10.
  20. ^ a b c d e "Organisation Chart". Sollers-auto.com. Retrieved 27 May 2017.
  21. ^ "Список аффилированных лиц". E-disclosure.ru. Retrieved 27 May 2017.
  22. ^ "Sollers exits from its joint venture with Isuzu Motors to focus on SUV, LCV segments - ET Auto". ETAuto.com. Retrieved 27 May 2017.
  23. ^ "Fiat's Miserable Failure In Russia Underscores Just How Hard It Is To Do Business There". Business Insider. Retrieved 27 May 2017.
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