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

ENGLISH
|
JAPANESE
|
CONNECT WITH US:

Nov 30, 2020 18:24 JST

Source: mazda

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 -

TOKYO, Nov 30, 2020 - (JCN Newswire) - 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.

Source: mazda
Sectors: Automotive

Copyright ©2026 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Latest Release

Eisai

Eisai Listed as a Global 100 Most Sustainable Corporation for the Tenth Time
Jan 21, 2026 16:44 JST

Mitsubishi Heavy Industries, Ltd.

MHI and ITB Deepen Research Collaboration on Ammonia-Based Clean Power in Indonesia
Jan 21, 2026 16:37 JST

Mitsubishi Heavy Industries, Ltd.

MHI-TC Delivers Self-Propelled Mobile Seaport Passenger Boarding Bridge to Yokohama City, Entering Service on January 13th
Jan 21, 2026 11:02 JST

Asian Financial Forum

Asian Financial Forum opens next Monday with a fresh perspective and new tagline, "Finance Empowering Business"
Jan 20, 2026 14:30 JST

Honda Motor Co, Ltd

Overview of Speeches Delivered at Launch Event for New Partnership between Honda and the Aston Martin Aramco Formula One(R) Team for 2026 Season
Jan 20, 2026 14:19 JST

Mitsubishi Motors

Mitsubishi Motors Marks Record Sales in Vietnam for the Second Consecutive Year in 2025
Jan 20, 2026 12:35 JST

Fujitsu recognized by World Economic Forum for project promoting sustainable hospital management leveraging AI
Jan 20, 2026 11:23 JST

Denso

DENSO to Promote Standardization of Automotive Software as an AUTOSAR Core Partner
Jan 19, 2026 16:00 JST

Toyota Motor Corporation

New-look TGR-WRT launches landmark campaign on legendary rally
Jan 16, 2026 21:34 JST

Mitsubishi Corporation

Mitsubishi Corporation Announces Acquisition of Haynesville Shale Gas Business in Louisiana and Texas
Jan 16, 2026 21:12 JST

Mitsubishi Heavy Industries, Ltd.

MHI Thermal Systems Expands Lineup of Building-Use Multi-Split Air-Conditioners for Overseas Markets

Jan 16, 2026 15:47 JST

NEC Corporation

NEC Launches "NEC Composable Disaggregated Infrastructure Solution" for Distributed Computing Resources
Jan 15, 2026 17:00 JST

Mitsubishi Heavy Industries, Ltd.

Mitsubishi Power Lands Significant Gas Turbine Order for Qatar's Facility E IWPP Project
Jan 14, 2026 18:58 JST

Mitsubishi Motors

Mitsubishi Motors Launches Updated Outlander PHEV in Canada
Jan 14, 2026 17:38 JST

Hitachi, Ltd.

Hitachi High-Tech launches FOUNDRY-MASTER Smart 2, enhancing performance and value of stationary optical emission spectrometers
Jan 14, 2026 14:10 JST

Fujitsu launches demonstration experiment into green steel value flow utilizing blockchain technology to accelerate decarbonization in the steel Industry
Jan 14, 2026 10:52 JST

Toyota Systems, Fujitsu utilize quantum-inspired technology and AI to streamline on-board computer design and contribute to sustainable development
Jan 14, 2026 10:36 JST

Mitsubishi Motors

Mitsubishi Motors Starts Production of Rogue Plug-in Hybrid and Navara OEM Models for Nissan
Jan 13, 2026 16:02 JST

Mitsubishi Corporation

Additional Investment in Commercial Space Station Business and Acquisition of Experimental Module Usage Rights
Jan 13, 2026 14:34 JST

Honda Motor Co, Ltd

Honda to Adopt New "H mark" as Symbol of Honda Automobile Business
Jan 13, 2026 11:26 JST

More Latest Release >>