Toyota plant in St. Petersburg sold without buyback option

Russian assets of the Japanese automaker Toyota, including the plant in St. Petersburg, were sold to FSUE NAMI without a buyback option. About it informed Deputy Prime Minister, Head of the Ministry of Industry and Trade Denis Manturov in an interview with RIA Novosti on the eve of the St. Petersburg International Economic Forum (SPIEF).

“Toyota’s asset transfer deal, like Volkswagen’s, does not include an option to buy back production sites,” he stressed.

Factory transfer deal Toyota “US” took place in March 2023. The agreement implies the complete transfer of ownership of the plant building, equipment and land. Other details of the deal were not disclosed.

The Toyota plant in Shushary, St. Petersburg, as well as other foreign car plants in Russia, has been idle since March last year after the start of the special operation. Prior to this, this assembly site worked for 15 years, production was launched in 2007.

In early June, it became known that “NAMI” will sell former assets Toyota Shushary-Auto (Almaz-Antey). The concern will launch the production of trucks and the E-Neva electric crossover by 2026, the Ministry of Industry and Trade reported.

Obukhov Plant, part of the defense concern Almaz-Antey, April 27 became management company of the former Japanese Toyota plant in St. Petersburg. The very production site of the Japanese manufacturer was bought by Shushary-Avto, a subsidiary of FSUE NAMI.