Sollers Ends Negotiations with Fiat Group for Joint Venture in Russia, Then Signs Deal with Ford

Italian automaker Fiat SpA and Russia's Sollers OJSC, backed out of a potential partnership today following the signing of a Memorandum of Understanding (MoU) in February 2010 for the launch of a Russian joint-venture to produce passenger cars and SUVs.

Fiat, which controls US automaker Chrysler, and Sollers did not give any explanation for the breakup of negotiations, with both companies simply stating that they intend to continue expanding their existing operations and activities in the region. The 2.4 billion-euro deal signed last year was aimed at producing as many as 500,000 cars annually by 2016 and would have been supported by a 1.2 billion- euro loan backed by the Russian government.

Literally only minutes after the joint statement by Fiat and Sollers, Ford Motor Company came out with a press release announcing that is has signed a Memorandum of Understanding with Sollers, under which the two parties intend to launch a new 50:50-owned joint venture called Ford Sollers for the production and distribution of Ford vehicles in Russia.

Under the new proposed joint venture with Ford, Sollers, which is the second largest producer of passenger and light commercial vehicles in Russia, local plants in Vsevolozhsk (St. Petersburg region) and in the Republic of Tatarstan, will manufacture a range of Ford passenger cars and light commercial vehicles at local production facilities.

“We are delighted to be taking this next step for Ford in Russia with our proposed partner, Sollers,” said Stephen Odell, chairman and CEO, Ford of Europe. “This is a great opportunity, and will provide Ford customers in Russia with more products and better service.

“We are inspired by the opportunity to work with Ford,” said Vadim Shvetsov, general director of Sollers. “We are confident that our mutual efforts on the development of manufacturing facilities, new product launches and localization of parts content will ensure success for our strategy, and a leading position for the future joint venture company on the Russian market.”

Ford, which has been producing cars in Russia since 2002, did not disclose the financial terms of the deal with Sollers.

Black Lightning: A Russian Delivery Boy Fights Capitalism in a…Flying Volga

You may not know the name Timur Bekmambetov, but you would surely have seen Wanted: that over-the-top movie with Angelina Jolie, Morgan Freeman and that guy from Atonement. That was him.

He also made two really cool Russian language urban sci-fi / horror movies called Night Watch and Day Watch, the first of which made more money in its homeland than the first three Lord of the Rings movies put together. So when Mr. B releases a new movie, I’m there. His latest effort is Black Lightning, which is a superhero origin story. Spoilers ahead...

Dima is a university student with a problem. He has a massive crush on the new girl, Nastya, but no money and no car. His well-meaning Dad gives Dima his old Volga and encourages him to get a job. The job Dima eventually finds its delivering fresh flowers for an over-demanding boss.

Sounds pretty ordinary so far, huh? Well, get this: the Volga is a Soviet Era flying car, powered by a very unique power source that the big bad needs to power his top secret mining laser (yes, the villain in this movie is a capitalist!). The bad finds out about Dima’s Volga and his henchmen end up murdering the boy’s father. Dima responds by becoming a sort of superhero and national icon, using his flying car to save lives and fight crime.

Meanwhile, the bad guys are closing in and soon Dima is forced to fight for his life – and the lives of all of Moscow. Black Lightning is the sort of superhero movie Hollywood hardly makes any more. It’s silly, but not too silly and has the right mix of gravitas and humour to keep you humming on.

It’s not high art, but it’s well made, and the acting and special effects are what we’ve come to expect from Bekmambetov over the years. The cast is great, especially Viktor Verzhbitskiy as the villain. He’s worked with this director before, and always manages to have that slimy menace that Lex Luthor-esque movie villains so richly deserve.

The film should be readily available to rent and buy, albeit only with subtitles, and you can check out the (subbed) trailer below.

Black Lightning: A Russian Delivery Boy Fights Capitalism in a…Flying Volga

You may not know the name Timur Bekmambetov, but you would surely have seen Wanted: that over-the-top movie with Angelina Jolie, Morgan Freeman and that guy from Atonement. That was him.

He also made two really cool Russian language urban sci-fi / horror movies called Night Watch and Day Watch, the first of which made more money in its homeland than the first three Lord of the Rings movies put together. So when Mr. B releases a new movie, I’m there. His latest effort is Black Lightning, which is a superhero origin story. Spoilers ahead...

Dima is a university student with a problem. He has a massive crush on the new girl, Nastya, but no money and no car. His well-meaning Dad gives Dima his old Volga and encourages him to get a job. The job Dima eventually finds its delivering fresh flowers for an over-demanding boss.

Sounds pretty ordinary so far, huh? Well, get this: the Volga is a Soviet Era flying car, powered by a very unique power source that the big bad needs to power his top secret mining laser (yes, the villain in this movie is a capitalist!). The bad finds out about Dima’s Volga and his henchmen end up murdering the boy’s father. Dima responds by becoming a sort of superhero and national icon, using his flying car to save lives and fight crime.

Meanwhile, the bad guys are closing in and soon Dima is forced to fight for his life – and the lives of all of Moscow. Black Lightning is the sort of superhero movie Hollywood hardly makes any more. It’s silly, but not too silly and has the right mix of gravitas and humour to keep you humming on.

It’s not high art, but it’s well made, and the acting and special effects are what we’ve come to expect from Bekmambetov over the years. The cast is great, especially Viktor Verzhbitskiy as the villain. He’s worked with this director before, and always manages to have that slimy menace that Lex Luthor-esque movie villains so richly deserve.

The film should be readily available to rent and buy, albeit only with subtitles, and you can check out the (subbed) trailer below.

By Tristan Hankins

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Sollers Ends Negotiations with Fiat Group for Joint Venture in Russia, Then Signs Deal with Ford

Italian automaker Fiat SpA and Russia's Sollers OJSC, backed out of a potential partnership today following the signing of a Memorandum of Understanding (MoU) in February 2010 for the launch of a Russian joint-venture to produce passenger cars and SUVs.

Fiat, which controls US automaker Chrysler, and Sollers did not give any explanation for the breakup of negotiations, with both companies simply stating that they intend to continue expanding their existing operations and activities in the region. The 2.4 billion-euro deal signed last year was aimed at producing as many as 500,000 cars annually by 2016 and would have been supported by a 1.2 billion- euro loan backed by the Russian government.

Literally only minutes after the joint statement by Fiat and Sollers, Ford Motor Company came out with a press release announcing that is has signed a Memorandum of Understanding with Sollers, under which the two parties intend to launch a new 50:50-owned joint venture called Ford Sollers for the production and distribution of Ford vehicles in Russia.

Under the new proposed joint venture with Ford, Sollers, which is the second largest producer of passenger and light commercial vehicles in Russia, local plants in Vsevolozhsk (St. Petersburg region) and in the Republic of Tatarstan, will manufacture a range of Ford passenger cars and light commercial vehicles at local production facilities.

“We are delighted to be taking this next step for Ford in Russia with our proposed partner, Sollers,” said Stephen Odell, chairman and CEO, Ford of Europe. “This is a great opportunity, and will provide Ford customers in Russia with more products and better service.

“We are inspired by the opportunity to work with Ford,” said Vadim Shvetsov, general director of Sollers. “We are confident that our mutual efforts on the development of manufacturing facilities, new product launches and localization of parts content will ensure success for our strategy, and a leading position for the future joint venture company on the Russian market.”

Ford, which has been producing cars in Russia since 2002, did not disclose the financial terms of the deal with Sollers.