MOSCOW, March 16 (Reuters) – Japanese carmaker Toyota’s (7203.T) St Petersburg plant may be transferred to the Russian state entity NAMI, Russian Industry and Trade Minister Denis Manturov said on Thursday, according to the state-run TASS news agency.
“The transfer of Toyota’s Russian asets to NAMI is being considered,” Manturov was quoted as saying on the sidelines of a business congress.
NAMI, Russia’s Central Automobile and Engine Research and Development Institute, has already snapped up plants from Renault and Nissan.
A Toyota spokesperson could not immediately be reached for comment outside regular business hours.
Reporting by Reuters; additional reporting by Daniel Leussink in Tokyo; Writing by Alexander Marrow; Editing by Kevin Liffey