Business News News World

Toyota shuts Russian factory due to supply chain problems

Toyota announced Friday it was closing its assembly line near Saint Petersburg, in a new example of supply chain problems dogging firms operating in the sanctions-hit country.

The industrial site spanning over 224 hectares (554 acres) suspended production in March, shortly after the start of Russia’s military operation in Ukraine.

“Toyota has decided to stop production at the Toyota Motor plant in Saint Petersburg,” the company said in a statement.

“After six months at a standstill, the company does not see a realistic possibility of restarting production in the future.”

The Japanese carmaker was forced to close the plant due to major disruptions in the “supply of electronic parts”, the main business daily Kommersant newspaper said Friday, citing sources in the company.

Russian President Vladimir Putin attended the opening of the site in 2007.


Related posts

ODM leader Raila Odinga appeals for unity ahead of 2022 elections


KRA to reopen Keroche after new court order


King Charles thanks public ahead of Queen’s ‘last farewell’


Leave a Comment