Dec. 23 – Toyota Motor Corp. plans to open new authorized dealer’s centers in the Far East Russian cities of Khabarovsk, Vladivostok and Nakhodka by summer of 2012, President of Toyota Motors Russia Takeshi Isogaya said in a statement released to the press.
Dealer’s centers would be established in concentrated areas within the cities already receiving Japanese investment. Read the rest of this entry »
Oct. 27 – In spite of its own economic problems, Italy has managed to become Russia’s second largest trade partner in Europe after Germany. Trade turnover between the two states reached US$37.3 billion in 2010, according to the Russian Customs Service, representing a respectable recovery after trade turnover dropped to US$25 billion in 2009 after the Global Financial Crisis.
The two countries’ economic cooperation began when the Italian carmaker Fiat helped to set up Russia’s first car manufacturer AvtoVAZ, which produced Ladas based on a Fiat design. Read the rest of this entry »
Jun. 24 – Japan’s Mazda Motor Corp. plans to build a US$80 million automobile plant in the Russian Far East to meet demand for Asian brands in the region, economy ministry official Dmitry Levchenkov said yesterday according to Interfax.
“We have signed an agreement with Mazda under the old industrial assembly regime. Production will be launched in the Primorye Territory in the Far East,” said Dmitry Levchenkov, head of the ministry’s special economic zone department. He added that the plant will produce 25,000 to 50,000 vehicles per year. New assembly is planned to launch in the middle of 2012. Read the rest of this entry »
Feb. 11 – Toyota will join forces with Russian automaker OAO Sollers to boost auto production close to the locations where demand for cars is growing, the Nikkei newspaper and Kyodo News agency reports, citing unidentified sources.
Toyota will ally with Japanese trading house Mitsui & Co to use the existing Sollers factory in the Russian city of Vladivostok to produce passenger cars, possibly sport utility vehicles, starting around next year. Read the rest of this entry »
Nov. 1 – French auto-maker Renault SA and its Japanese alliance partner Nissan Motor Co. are in negotiations with Russian investment banking company Troika Dialog in a bid to purchase its 25 percent holding in Russia’s AvtoVAZ, the brokerage said Thursday.
“As part of our long-term strategy, the alliance will continue to make investments in our business in Russia, which could include taking a larger stake in our local partner,” Renault-Nissan spokesman Simon Sproule said in an e-mailed statement. Read the rest of this entry »
Sept. 27 – Hyundai Motor launched its first Russian full-cycle car assembly plant in St. Petersburg. The company invested a total of US$500 million in the facility, which will work in pilot mode until the end of this year and start commercial production in January.
Production at the plant will include stamping, welding, painting and assembling. Read the rest of this entry »
Jul. 16 – The three main shareholders of Russian automaker AvtoVAZ – Russian Technologies, France’s Renault and Troika Dialog – agreed on Thursday to increase authorized capital for the company.
French shareholder Renault will provide the automaker with equipment and technology equivalent to US$306 million to maintain its 25 percent stake through the first phase of the transaction. This contribution would allow AvtoVAZ to start manufacturing new car models including a budget model to replace the classic Ladas. Read the rest of this entry »
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