Japan’s Toyota hands St Petersburg plant over to Russian state

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Reuters UK

MOSCOW (Reuters) -Russia and Toyota said on Friday that the Japanese carmaker’s factory in St Petersburg had been handed over to state entity NAMI, with Moscow snapping up more assets from global automakers leaving Russia over the conflict in Ukraine. “Toyota’s production site in St Petersburg has… been transferred to the state,” Russia’s Ministry of Industry and Trade said in a statement. The company said in September it had decided to stop vehicle production in Russia due to the interruption in supplies of key materials and parts. “Toyota confirms that it has concluded the transfer of its …

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