Toyota Motor is considering a plan to build passenger cars in Russia, its president Fujio Cho reportedly said.

The Nihon Keizai Shimbun Cho, which a month ago said Toyota would build a plant for 15,000 cars a year, reported that Cho said during a visit to New York last week that car markets in Eastern Europe and Russia have the second-highest growth potential after the Chinese market.

Toyota initially planned to begin producing commercial vehicles in Russia in 1999, but withdrew the plan after the financial crisis there, according to Kyodo News.

Cho reportedly also targeted global sales of petrol-electric hybrid vehicles to rise to 1 million to 2 million by 2010.