Toyota ends production in Russia
Toyota says that it has decided to end vehicle production at its Saint Petersburg plant in Russia.
The company suspended its manufacturing operations at the plant in Saint Petersburg back in March due to what the company calls "the interruption in the supply of key materials and parts". Toyota says that since then, the company has been monitoring the situation closely and evaluating the future sustainability of the business in Russia.
"During this period we have fully retained our workforce and ensured our facility was ready to re-start production if the circumstances allowed. However, after six months, we have not been able to resume normal activities and see no indication that we can re-start in the future," the company writes in a press release.
The company says that it has also determined that the operations in Moscow need to be optimised and restructured – with the objective of retaining an effective organisation to continue supporting the retail network, and providing service to existing Toyota and Lexus customers in Russia.
The vehicle manufacturer says that it will be offering employees assistance for re-employment, re-skilling and well-being, including financial support.