Mazda Is Latest Proposed Partner of Russia's Sollers

HIROSHIMA, Japan — Mazda says it plans to build cars with Russian automaker Sollers in Vladivostok.

Based in the Russian Far East, Sollers currently assembles cars from Korea's SsangYong and is negotiating a huge joint venture with Ford.

Earlier this year, negotiations between Sollers and Fiat on a proposed $3.2-billion joint venture fell through.

In Japan, Mazda said it had signed a memorandum of understanding "with the intent to establish a joint venture production facility" with Sollers that will supply "several Mazda nameplates for the Russian market."

Mazda's sales this year have rocketed in Russia, which is one of the world's fastest-growing markets. Mazda said its Russian sales through the first nine months jumped 77 percent, to 28,000 units, making the country its second largest market in Europe behind Germany.

Inside Line says: Sollers has huge ambitions that so far have been thwarted by its inability to close a big deal with any of the major international players.