Russia plans to take over Toyota's St. Petersburg plant, says TASS

Robert Besser
19 Mar 2023, 05:08 GMT+10

State run news agency TASS has reported that Toyota's St Petersburg plant may be transferred to Russia's Central Automobile and Engine Research and Development Institute.
In September, Toyota said that due to interrupted supplies of key materials and parts, it had decided to end its vehicle production in Russia.
Renault and Nissan plants in Russia have already been taken over by the state.

MOSCOW, Russia: State run news agency TASS has reported that Russia's Industry and Trade Minister Denis Manturov said that Japanese car maker Toyota's St Petersburg plant may be transferred to Russia's Central Automobile and Engine Research and Development Institute, NAMI.

"The transfer of Toyota's Russian assets to NAMI is being considered," Manturov said, on the sidelines of a business congress.

Renault and Nissan plants in Russia have already been taken over by NAMI.

This week, a spokesperson for Toyota said that after deciding last year to end production in St Petersburg last March, it was considering its options.

"While it is true that we are considering various options, nothing has been decided at this point," the spokesperson said.

In September, Toyota said that due to interrupted supplies of key materials and parts, it had decided to end its vehicle production in Russia.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.

More Information

27 ℃

Haze in New Delhi/Gandhi

Business

Section

France says fishermen must end deaths of dolphins-porpoises in nets

PARIS, France: Amidst the mass deaths of dolphins and porpoises in recent years, France's highest administrative body has ordered the ...

Philippines finds leaking fuel tanker 3 weeks after sinking

MANILA, Philippines: An underwater robot from Japan has located a leaking fuel tanker, MT Princess Empress, which sank off the ...

U.S. stocks tumble as UK inflation rate spikes to 10.40 percent

NEW YORK, New York - A hike in official U.S. interest rates of 0.25 percent, and a jump in inflation ...

Amazon to cut 9,000 jobs, bringing total layoffs to 27,000

SEATTLE, Washington: In a memo to staff sent this week, Amazon CEO Andy Jassy said the company plans to cut ...

Defective break hose, wiper arm causes Ford recall of 1.5 million cars

DETROIT, Michigan: Due to leaking brake hoses and windshield wiper arms that can break off, Ford is recalling more than ...

Techs jump in widespread U.S. stock markets advance

NEW YORK, New York - Wall Street continued its advance on Tuesday as investors continued to weigh up the health ...

Delhi

Section