Russia says it may take over Toyota plant in St Petersburg -TASS

Russia says it may take over Toyota plant in St Petersburg -TASS
Russia says it may take over Toyota plant in St Petersburg -TASS

MOSCOW (Reuters) -Japanese car maker Toyota’s St Petersburg plant may be transferred to the Russian state entity NAMI, Russian Industry and Trade Minister Denis Manturov said on Thursday, according to the state-run TASS news agency.

“The transfer of Toyota’s Russian assets to NAMI is being considered,” Manturov was quoted as saying on the sidelines of a business congress.

NAMI, Russia’s Central Automobile and Engine Research and Development Institute, has already snapped up plants from Renault and Nissan.

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A spokesperson for Toyota said on Friday it was considering what to do regarding the plant, after having already decided last year to end vehicle production in Russia after suspending production in St Petersburg last March.

“While it’s true that we’re considering various options, nothing has been decided at this point,” the spokesperson said.

Toyota said in September it had decided to stop vehicle production in Russia due to the interruption in supplies of key materials and parts.

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