St. Petersburg plant Toyota passed into state ownership of the Russian Federation

St. Petersburg Toyota plant passed into the state ownership of the Russian Federation through the transfer of FSUE NAMI to the subordinate Ministry of Industry and Trade. Currently, possible options are being worked out for the speedy resumption of production at the enterprise, the Interfax news agency writes. The details of the deal were not disclosed. In September 2022, Toyota Motor announced the closure of a plant in St. Petersburg due to the impossibility of the rhythmic supply of the necessary components. At the same time, the operating activity of the Moscow office of Toyota Motor was optimized and restructured with a focus on supporting the dealer network to continue after-sales service for Toyota and Lexus vehicles in Russia.

Recall that Toyota plant in St. Petersburg has suspended its work since March 4, 2022 due to a break in supply chains. The company produced Toyota Camry business sedan and RAV4 crossover. The capacities of Toyota Motor plant in St. Petersburg allow the production of up to 100,000 vehicles. For the whole history of the enterprise, more than 30 billion rubles have been invested in the development of production.