Isuzu to Raise Stake in Sollers-Isuzu JV

Sollers currently owns 66%, Isuzu, 29%, and Sojitz, 5% of Sollers-Isuzu. As part Isuzu's initiative for the Russian market and in line with its mid-term business plan, the company will increase its stake in Sollers-Isuzu to 45% by purchasing shares owned by Sollers.

At the same time, Isuzu will also dispatch directors to the JV who will take charge of sales, finance, and after-sales service, while actively reconstructing the dealership network.

With a view to long-term business stability, Isuzu also decided to relocate the plant in Elabuga District, Republic of Tatarstan, where Sollers-Isuzu has been manufacturing trucks since 2008, to Ulyanovsk City in Ulyanovsk Oblast.