Toyota, Sollers to make cars in Russia

• Source: Global Times
• [08:14 February 12 2011]
• Comments

Toyota Motor Corp will join Mitsui & Co and Russian automaker Sollers to assemble passenger cars in Vladivostok, Russia, as it accelerates its expansion in emerging markets, the Nikkei business daily reported.

Toyota, the world's largest automaker, would be the first Japanese automaker to set up a production facility in Russia's far east region.

It has been producing cars at a unit in St. Petersburg since 2007.

Toyota will provide parts and train personnel at the Russian plant, while Mitsui and Sollers will assemble the vehicles in a 50-50 joint venture, the Nikkei reported.

Sollers' existing factory in Vladivostok will be upgraded at a cost of several billion yen (tens of millions of dollars), so that it can assemble some 30,000 Toyota vehicles annually, it said.

The factory may assemble just one model, such as a sedan or a sports utility vehicle.

Mitsui will transport the Toyota-brand vehicles via the Trans-Siberian Railway and sell them throughout Russia, the business daily said.

Reuters