{"id":1655032,"date":"2022-09-23T12:05:07","date_gmt":"2022-09-23T16:05:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1655032"},"modified":"2022-09-23T12:06:09","modified_gmt":"2022-09-23T16:06:09","slug":"toyota-motor-to-close-its-factory-in-russia","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/toyota-motor-to-close-its-factory-in-russia\/","title":{"rendered":"Toyota Motor to close its factory in Russia"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftoyota-motor-to-close-its-factory-in-russia%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1655032&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>MOSCOW (Reuters) -Japan\u2019s Toyota Motor Corp said on Friday that it had decided to end vehicle production in Russia due to the interruption in supplies of key materials and parts.<\/p>\n<p>Toyota had suspended production in St Petersburg in March due to supply chain problems, and stopped importing to Russia.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>\u201cDuring this period we have fully retained our workforce and ensured our facility was ready to restart production if the circumstances allowed,\u201d it said in a statement. <\/p>\n<p>\u201cHowever, after six months, we have not been able to resume normal activities and see no indication that we can restart in the future.\u201d<\/p>\n<p>Toyota said its operations in Moscow needed to be restructured, but that it would continue supporting its retail network in providing service to existing Toyota and Lexus customers.<\/p>\n<p>\u201cWe will be offering (staff)\u2026 assistance for re-employment, re-skilling and wellbeing, including financial support above legal requirements,\u201d Toyota said.<\/p>\n<p>The Russian Kommersant newspaper, which first reported the plans, said the factory, which has a capacity of 100,000 units a year and produced the Camry and RAV4 models, would be preserved and might be sold in the future.<\/p>\n<p>Russia\u2019s Ministry of Industry and Trade said it was working alongside regional authorities on ways to develop the site.<\/p>\n<p>Many factories in Russia have suspended production and furloughed workers due to shortages of high-tech equipment because of sanctions and an exodus of Western manufacturers since Moscow sent armed forces into Ukraine on Feb. 24.<\/p>\n<p>Renault sold its majority stake in Russia-based carmaker Avtovaz to a Russian science institute, reportedly for one rouble.<\/p>\n<p>Luxury car makers such as Jaguar have stopped exporting to Russia and Ford and BMW have suspended some production.<\/p>\n<p>Volvo in July began laying off some of its staff in Russia \u2013 which last year accounted for 3% of net group sales \u2013 after suspending sales, service and production in February.<\/p>\n<p>Tyre makers Michelin and Nokian also plan to quit Russia. Michelin said supply chain problems related to sanctions had made it impossible to do business there.<\/p>\n<p> (additional reporting by Satoshi Sugiyama in Tokyo; editing by Kevin Liffey, Jason Neely and Jonathan Oatis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/toyota-motor-to-close\/attachment\/file-photo-file-photo-toyota-logo-is-seen-at-a-3\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8M0E2-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8M0E2-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MOSCOW (Reuters) -Japan\u2019s Toyota Motor Corp said on Friday that it had decided to end vehicle production in Russia due to the interruption in supplies of key materials and parts.<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1655032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1655032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1655032"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1655032\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1655032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1655032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1655032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}