The Toyota factory in Russia has been taken over by the authorities

Russia announced on Friday that the Toyota plant in St. Petersburg had been transferred to a state-controlled institute, but the Japanese company has not yet confirmed whether it has reached an agreement on the transfer of ownership.

The Central Institute for Research and Development of Automobiles and Engines took over the St. Petersburg plant and the Ministry of Industry and Trade of Russia claims that it would be a decision approved by Toyota. In March last year, the Japanese company stopped production at the factory in Russia.

The Toyota plant in Russia was taken over by an institute

Russia announced on March 31 that the Toyota plant in St. Petersburg has been transferred to NAMI (Central Research and Development Institute of Automobiles and Engines), as the authorities in Moscow rush to take over as many assets of the car companies leaving the Russian market as possible. following the war in Ukraine, it is stated in a material published by Reuters. “The Toyota plant in St. Petersburg is at this stage transferred to the state. The agreement involves the complete takeover of the property rights of the building, equipment and land”, informed the Ministry of Industry and Commerce. The institution assured that it will resume production as soon as possible.

The lack of components leads to the shutdown of AvtoVAZ production

The sanctions imposed after the start of the war in Ukraine have severely affected the Russian economy, one of the most affected industries being the automotive industry. AvtoVAZ, Russia’s largest carmaker, announced at the end of this week that it had made the decision to send its employees on summer vacation sooner because of a shortage of parts.

AvtoVAZ has now announced that it is already working on establishing new logistics corridors. Moreover, the heads of the Russian car manufacturer claim that they have identified options by which they can replace more than two hundred automobile components that they can no longer obtain from Western partners. The manufacturer also predicted that “in the spring of 2023, several component suppliers have notified AvtoVAZ that they will end supplies and violate existing agreements to maintain supplies in 2023.” Under these conditions, AvtoVAZ representatives claim that “the production of complete vehicles will no longer be possible starting from the second half of May 2023”.

Source: Promotor by

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