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

Fujitsu and Carnegie Mellon University launch joint center for Physical AI
Apr 23, 2026 17:19 JST

China Gas Holdings Limited

China Gas Signs Strategic Cooperation Agreement with CITIC Construction and China CITIC Bank

Apr 22, 2026 21:32 JST

CBL INTERNATIONAL LIMITED

CBL International Limited Acquires Majority Stake in Green Marine Energy Holdings Limited
Apr 22, 2026 21:15 JST

OMRON Healthcare

OMRON Healthcare and Tricog Health strengthen collaboration in India with Tricog CardioCheck (TCC)
Apr 22, 2026 19:30 JST

Mitsubishi Heavy Industries, Ltd.

MHI Marine Machinery & Equipment and Mitsubishi Shipbuilding Obtain Approval in Principle (AiP) for the Basic Design of a Methane Oxidation Catalyst System for Marine LNG-Fueled Engines from Classification Society ClassNK
Apr 22, 2026 17:16 JST

NEC Corporation

NEC Receives Company of the Year recognition in Global Biometric Solutions from Frost & Sullivan
Apr 22, 2026 14:46 JST

Mitsubishi Heavy Industries, Ltd.

MHIEC Completes Improvement of Core Equipment at Municipal Solid Waste Incineration Facility in Kagoshima City

Apr 22, 2026 11:13 JST

Mitsubishi Heavy Industries, Ltd.

MHIEC Completes Improvement of Core Equipment at Municipal Solid Waste Incineration Facility in Sendai City
Apr 22, 2026 11:03 JST

Eisai

Merck & Co., Inc., Rahway, NJ, USA and Eisai Provide Update on Phase 3 LITESPARK-012 Trial Evaluating First-Line Combination Treatments for Certain Patients With Advanced Renal Cell Carcinoma (RCC)
Apr 21, 2026 20:52 JST

Hitachi, Ltd.

Hitachi to establish a new company with Nojima under a strategic partnership to accelerate growth of its home appliance business
Apr 21, 2026 19:21 JST

BULL and Fujitsu Sign Basic Agreement to Develop Japan's Unique High-Precision Space Situational Awareness Service
Apr 21, 2026 11:47 JST

Fujitsu launches GLOVIA One ERP solution for mid-sized Japanese enterprises
Apr 20, 2026 11:46 JST

NEC Corporation

NEC to Supply Nine Types of Defense Equipment for Tthree Australian Frigates
Apr 19, 2026 12:10 JST

Mitani Sangyo Co., Ltd.

Mitani Sangyo Filed U.S. Patent Application for AI Reliability Governance Framework
Apr 17, 2026 00:00 JST

TANAKA PRECIOUS METAL GROUP Co., Ltd.

TANAKA PRECIOUS METAL NEXT Certified as a Special Subsidiary
Apr 16, 2026 21:00 JST

Toyota Motor Corporation

Isuzu and Toyota to Jointly Develop Japan's First Mass-produced Light-duty Fuel Cell Electric Truck
Apr 16, 2026 15:53 JST

Honda Motor Co, Ltd

Honda to Begin Sales of All-new Insight EV

Apr 16, 2026 15:31 JST

Hitachi, Ltd.

Hitachi Energy and Samsung C&T expand strategic collaboration to accelerate grid infrastructure and reinforce energy security
Apr 15, 2026 18:17 JST

Mitsubishi Motors

Mitsubishi Motors' Outlander PHEV Ranks No. 1 in Japan's PHEV Sales Category for the Second Consecutive Year
Apr 15, 2026 18:01 JST

Denso

DENSO Establishes Strategic Partnership with Oracle to Modernize Core Supply Chain Systems
Apr 15, 2026 11:25 JST

More Latest Release >>