The «Sollers Ford» Company Bought the Engine Plant from Ford for $14.5 million
OREANDA-NEWS. «Sollers Ford» company based in Elabuga, Russia, closed the deal to acquire the engine plant «Ford Motor Company», paying for it $14.5 million (about 1.14 billion rubles). An investment loan for the purchase of an American production site was allocated by SberCIB, the press service of the automaker told «Kommersant».
Having received the order of the idle plant and all it's equipment since 2019, «Sollers Ford» can become the first company in Russia, which localizes the production of diesel engines for light commercial vehicles. It is planned to gain this status after the restart of the enterprise in 2023 and the start of serial assembly of the 2.2-liter diesel engine, which is now equipped with the «Ford Transit» produced in Yelabuga and their modifications.
At the same time, sources note, that the capacity of the purchased plant is excessive, so the concern is already negotiating on the organization of mechanical processing or assembly of engines for other automakers.
Recall, that the Ford engine plant in Russia was stopped after the brand left the Russian passenger car market in 2019. The area is located in the Yelabuga district of Tatarstan near the automobile production of «Ford Sollers» and covers an area of 42.6 thousand square meters.