Business daily Nihon Keizai Shimbun reported on Monday that Toyota would build a car plant in Russia, aiming to start production in three to four years.
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The paper said that Toyota has decided to launch a feasibility study, but details such as the plant’s location and cost have yet to be determined.
Toyota aims to penetrate the growing Russian market and use the plant as a manufacturing base for Europe, the paper said.
The Russian plant would likely make Toyota’s Land Cruiser sport utility vehicles, among others, the paper added.
Toyota established a sales company in Russia in 2001. It started marketing Land Cruisers and other vehicle in Russia from last year, selling 8,100 units in that year, the newspaper said.
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