Mazda and Sumitomo Agree to Transfer Shares of MMVO, a Joint Venture Production Base in Mexico

Nov. 30, 2020 Mazda Motor CorporationSumitomo Corporation

Mazda and Sumitomo Agree to Transfer Shares of MMVO, a Joint Venture Production Base in Mexico MMVO to be owned solely by Mazda by the end of this fiscal year

Mazda Motor Corporation and Sumitomo Corporation officially agreed today to Mazda obtaining all the shares Sumitomo owns in Mazda de Mexico Vehicle Operation (MMVO). After the formalities regarding the transfer, MMVO will be a production base owned 100 percent by Mazda by the end of the fiscal year ending in March 2021.

MMVO was jointly established as a cooperative enterprise between Mazda and Sumitomo in September 2011 that leverages the strengths of both companies. Receiving support from both parties as well as the local community, MMVO has striven to realize Mazda’s high-quality and flexible car manufacturing while also promoting localization and personnel development. More than nine years since its establishment, MMVO became one of Mazda’s major production facilities with its localization strengthened thanks to Sumitomo’s experience and knowledge as well as its cumulative production volume reaching as many as 1 million units. It was agreed that as MMVO reaches its 10th year since its foundation, Mazda will become the sole proprietor of MMVO as a result of discussions between Mazda and Sumitomo on MMVO’s future plans and management.

In the future, Mazda and Sumitomo will continue to cooperate as important business partners in various business areas in and out of Japan. MMVO will continue to contribute to the local economy as well as further development of the automotive industry in the country.

 

Exterior of MMVO

 

[Outline of MMVO]

Company name : Mazda de Mexico Vehicle Operation Location : Salamanca city, Guanajuato state, Mexico Representative : President & CEO Chiharu Mizutani Number of employees : 5,200 people (As of March 2020) Investment ratio : Mazda: 75%, Sumitomo: 25% (Mazda to own 100% share after the change) Production capacity : Vehicle: 250,000 units/year; Engine: 250,000 units /year Mazda production Vehicle/Engine : Vehicle: MAZDA3, MAZDA2, MAZDA CX-30 Engine: SKYACTIV-G 1.5, SKYACTIV-G 2.0, SKYACTIV-G 2.5 gasoline engines History of MMVO : 2011 Sep: Established (Investment ratio: Mazda: 70%; Sumitomo: 30%)           Oct: Ground-breaking ceremony 2014  Jan: Mazda3 mass production start           Feb: Opening ceremony for MMVO           Oct: Mazda2 mass production start; Engine machining plant operation start  2015 Jun: Toyota-branded model production start  2017 Mar: Investment ratio change (Mazda: 75%; Sumitomo: 25%)  2019 Sep: Mazda CX-30 mass production start  2020 Jan: Cumulative production volume reaches 1 million units    　　　　(Commemoration ceremony held in February.)

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