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 Broadcast Communications.

More Information

27 ℃

Rain Shower in Seletar

Business

Section

China's major pig breeders face mounting debts, losses

BEIJING, China: Falling hog prices, mounting losses and rising debt are putting pressure on the biggest pig breeders in China, ...

Wall Street loses ground Wednesday, U.D. dollar gains

NEW YORK, New York - A decline in labor costs as measured by ADP failed to boost U.S. Markets Wednesday."ADP's ...

73,000 Chevrolet Volt cars being probed in US over loss of power

WASHINGTON D.C.: A U.S. auto safety regulator said this week it is opening an investigation into 73,000 Chevrolet Volt plug-in ...

New York state decides case, opens door for more marijuana clinics

NEW YORK: This week, a New York judge approved legal settlements to end lawsuits that halted the state's legal cannabis ...

Tech stocks outperform Tuesday, Nasdaq Composite gains

NEW YORK, New York - U.S. stocks spent most of Tuesday meandering, with the major indices closing out the day ...

Strike cost Ford 100,000 vehicles in sales, $1.7 billion in profit

DEARBORN, Michigan: This week, Ford said a six-week United Auto Workers (UAW) strike cut its sales by some 100,000 vehicles ...

Broadcasting

Section

Movie Review

The Circus

Circus