Ford Motor has inked a 50/50 joint venture with Russian auto company Sollers. The deal involves production and distribution of passenger cars and light-duty commercial vehicles, and comes directly on
the heels of Sollers announcing it would exit negotiations for a similar deal with Fiat.
Stephen Odell, chairman and CEO, Ford of Europe, said the deal would "provide Ford customers
in Russia with more products and better service."
In 2002, Ford became the first foreign auto manufacturer to start producing cars in Russia. The deal with Sollers reflects a broader
industry trend.
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