On December 25, Isuzu Motors Ltd. announced that it will raise its stakes in and eliminate consolidation with Russiaâ€™s Sollers-Isuzu, and form a subsidiary.
Sollers-Isuzu is a merger between Isuzu Motors and major Russian automaker Sollers. It imports, manufactures, and sells Isuzuâ€™s commercial vehicles in Russia.
Though Sollers-Isuzuâ€™s ownership consisted of 45% Isuzu, 50% Sollers, and 5% Sojitz, the 50% of shares owned by Sollers has been bought out. As a result, Isuzu and Sojitzâ€™s ownership have increased by 29% and 21%, respectively.
Consequently, Isuzu will seek to expand its brand value, product lineup, and sales of commercial vehicles, as the automaker will be able to strengthen its operations independently in the highly anticipated Russian market.