Toyota to close sole manufacturing plant in Russia, expects more semiconductor disruption globally
By Peter Murphy2022-09-23T14:37:00
The Japanese automaker said that after a shut-down of more than six months, there was no sign it would be able to re-open.
The company said it had retained all of its workforce during the suspension and had kept the plant ready for a future re-start. It will now be offering the employees re-employment assistance, re-skilling and financial support above legal requirements, it said.
Toyota said it will optimise and restructure its operations in Moscow to ensure it is effective in supporting the retail network’s service provision to existing Toyota and Lexus customers. The company has about 168 dealerships or retail locations in the country, according to its earlier March statement.