Nissan Motor said it had suspended production in Russia for a further six months, starting on 1 April, due to the Russian invasion of Ukraine.
Speaking at this week’s annual general meeting (AGM), CEO Makoto Uchida said: “We believe this situation could become more serious and prolonged” in reference to the worsening Russia-Ukraine conflict.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
He added: “Workers have been informed and we will continue to monitor the situation to minimise the impact.”
Earlier this week, a business survey revealed only 3% of Japanese companies operating in Russia had decided to withdraw from the country following the invasion of Ukraine, the lowest proportion among the Group of Seven (G7) nations.
Companies worldwide are coming under increased pressure to cut business ties with Russia due to the ongoing atrocities being committed by that country in Ukraine.
Nissan first suspended production in Russia in March and also stopped exports to Russia following the invasion of Ukraine in late February, citing logistical disruption due to broad based sanctions imposed mainly by western economies.
Alliance partner Renault withdrew from Russia in May after mounting criticism for its continued presence there.
