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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataHe 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.
