Toyota Invests $90 Million to Expand Russia Factory

Feb. 2, 2012
In 2011, sales of new cars and light commercial vehicles in Russia went up by 39% compared with 2010.

Over the next three years Toyota will invest $90 million to expand its factory in the northwestern Russian city of Saint Petersburg.

The new production facilities, including production lines to make body parts and plastic car parts, are due to launch in 2014, the company said on Feb. 2.

The company decided to take this action due to the "expected stable growth of the Russian market."

Toyota opened its Saint Petersburg factory in 2007 and now employs around 1,300 people.

The company has already invested 6.8 billion rubles (US$225 million) in the factory, producing just over 14,000 Camry sedans last year.

In 2011, sales of new cars and light commercial vehicles in Russia went up by 39% compared with 2010, according to the Association of European Businesses.

Copyright Agence France-Presse, 2012

See Also

.

Popular Sponsored Recommendations

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Your Industry 4.0 Journey

Sept. 24, 2023
When It Comes to Industry 4.0, the Journey is the Destination. Industry 4.0 must be embraced as a long-term, strategic mindset of digital transformation that dynamically alters...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!