Ford, Sollers Sign Agreement on Car Production Venture in Russia
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Ford Motor Co. and OAO Sollers, Russia’s second-biggest automaker, signed an agreement today to produce cars in Russia to expand in a market that grew 60 percent in the first five months of the year.
Production may reach 350,000 vehicles a year in 2015, Sollers Chief Executive Officer Vadim Shvetsov told reporters today at a signing ceremony attended by Prime Minister Vladimir Putin in Moscow. The partners will also build a factory to make 200,000 engines a year, he said.