Press reports in Japan suggest that Toyota is in the final stages of talks with the Russian government to build a carmaking plant in the St Petersburg area. The company hopes to reach an agreement in February according to the Mainichi Shimbun.
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If the negotiations proceed as planned, Toyota would become the first Japanese automaker to produce locally in Russia. It has been widely reported that Toyota plans to launch car assembly in St Petersburg in 2006.
Japanese media have reported that Toyota plans to produce a total of about 15,000 Corolla and Camry cars per year in Russia, with the plant’s production capacity being increased later on. Initially assembly kits are to be supplied primarily from Poland, according to Japanese media.
The Russian car market is expanding rapidly and Toyota plans to produce at the new plant Corolla and Camry sedans targeting the growing middle class consumers. Toyota started sales operations there in 2001, and sold 40,000 cars there between January and November this year.
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By GlobalData
