Registered in Ulyanovsk in 2017, Isuzu Sollers LLC (a joint venture between the Russian Sollers group and the Japanese concern Isuzu) filed an application for liquidation with the tax authorities on February 16, follows from the data of the SPARK-Interfax system. The relevant documents will be ready on February 28. The joint venture is liquidated following the termination of its SPIC (special investment contract).
“This did not affect the finances of the group: Sollers did not suffer any losses, since the joint venture did not have time to start investing in the organization of production,” commented “Interfax” the situation with the joint venture in the press service of PJSC Sollers.
In fact, Isuzu Sollers never fulfilled its obligations under the SPIC, while the parties owe nothing to the state, since they did not use benefits. The SPIC concluded in 2018 was one of the first in the automotive industry. The receipt of government approval for its termination became known in October.
In September, it was reported that Isuzu was considering a complete cessation of production in Russia following Toyota and Mazda. In October, Nissan announced its complete withdrawal from the Russian market.
The Isuzu brand has been officially represented in Russia since 2006, its plant in Ulyanovsk has been operating since 2012, in 2021 local production produced 3.7 thousand cars, in 2022 it was planned to increase it by 50%. According to the Association of European Businesses, last year Isuzu sold 567 passenger cars and light commercial vehicles in Russia, which is 26.8% less than in 2021.
Read more in the publication “Kommersant” “Japanese automakers turn away from Russia.”
