Business | Sep 24

Toyota to terminate auto production in Russia

NAGOYA, Sep 24 (Nikkei) - Toyota Motor on Friday announced that it would stop producing automobiles in Russia, citing difficulties supplying key materials and parts in the country amid the war in Ukraine.

The automaker suspended production at its plant in St. Petersburg on March 4, after the Russian invasion began.

"After six months, we have not been able to resume normal activities and see no indication that we can restart in the future," it said.

A protracted disruption would hurt Toyota's ability to support its employees, leaving it no choice but to end production in the country, it said. Mounting geopolitical risks in the region are believed to have contributed to the decision as well. ...continue reading

Source: ANNnewsCH

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