Toyota will expand in Russia by partnering with local automaker Sollers to help build Toyota-brand cars in the far east of the country as it pushes further into emerging markets, the Nikkei newspaper said.
The world’s largest automaker will provide parts and train personnel for a venture owned by Sollers and Japanese trading house Mitsui & Co which will aim to build 30,000 Toyota-brand vehicles annually, it said, according to Reuters.
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Kyodo News, citing unnamed sources, made a less detailed report that also mentioned Sollers and Mitsui.
Toyota spokesman Paul Nolasco declined to comment.
The factory in Vladivostok may assemble just one model and Mitsui will transport the cars via the Trans-Siberian Railway to sell them throughout Russia, the business daily said.
Toyota has built Camrys at a unit in St. Petersburg since 2007.
Automobile sales in Russia are expected to grow 17 percent to 2.24m units this year, the Nikkei said.
