Toyota’s St Petersburg Plant Handed Over to Russian State
19:13 JST, March 31, 2023
MOSCOW (Reuters) — Russia said on Friday Japanese carmaker Toyota’s factory in St Petersburg had been handed over to state entity NAMI, snapping up more assets from global automakers leaving Russia over the conflict in Ukraine.
“Toyota’s production site in St Petersburg has at this stage been transferred to the state,” Russia’s Ministry of Industry and Trade said in a statement.
“The agreement implies a full handover of ownership rights of the plant building, equipment and land.”
NAMI, Russia’s Central Automobile and Engine Research and Development Institute, has already taken on up plants from Renault and Nissan.
There was no immediate comment from Toyota. The carmaker earlier this month said it was considering what to do regarding the plant, having decided last year to end vehicle production in Russia after suspending production in St Petersburg last March.
Toyota said in September it had decided to stop vehicle production in Russia due to the interruption in supplies of key materials and parts.
The Russian ministry said it was working on resuming production at the plant as soon as possible.
"Business" POPULAR ARTICLE
-
Japan, U.S., Philippines to Strengthen Nickel Supply Chains; Reduce Reliance on China for Critical Minerals
-
Shinkansen to Have Private Rooms by FY 2026, JR Tokai Announces
-
Survey: 80% Worried About Recognizing AI as Patent Inventor; Respondents Fear Increase in Unverified Inventions
-
Ride-Sharing Services Start in Tokyo; Kanagawa, Aichi, Kyoto, Others To Follow Suit
-
Japan’s Docomo To Sell Contactless Smart Rings; Users Can Make Payments at the Wave of a Hand
JN ACCESS RANKING
- M6.0 Earthquake Hits Japan’s Tohoku Region; Fukushima, Iwate, Miyagi Prefectures Observe 4 on Japanese Scale With No Risk of Tsunami
- China Mutes Memorialization of Reformer Hu Yaobang; Memories Could Spark Critique of Xi Administration
- Shinkansen Services Suspended After Man ‘Searches for Phone’ on Tracks; Disruption Affects About 14,000 Passengers
- U.S. 7th Fleet officer Arrested on Suspicion of Stealing Sushi, Sashimi, Chicken at Kanagawa Shopping Mall; Suspect Caught Mid-Meal
- UNRWA Director Describes Catastrophic Destruction in Gaza; Says Relief Trucks Robbed, ‘People’s Hearts Destroyed’