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Toyota plant closes in September 2022 – September 23, 2022

The Ministry of Industry and Trade of the Russian Federation confirmed the decision of the Japanese corporation Toyota to close its plant in St. Petersburg. The beginning of its construction back in 2005 began with the laying of the first stone of the presidents by Vladimir Putin and former Japanese Prime Minister Yoshiro Mori. Then a lot was said on the growing confidence of foreign investors in the Russian economy . In addition, the EBRD provided 20% of the funds for the construction of the plant.

Last year, the St. Petersburg plant produced 80.8 thousand cars, and production was held back by a global shortage of components. In total, during his work, about half a million cars rolled off the assembly line. On a national scale, it was not the largest enterprise, however, one of the first and most significant. Technologies of interaction between city and federal authorities with foreign investors developed in this project were subsequently used to attract other auto giants to Russia. By the way, Maxim Sokolov, who oversaw this project from Smolny (at that time, the head of the Committee on Investments and Strategic Projects), is now the head of AvtoVAZ.

The production site of the Toyota plant occupies 139 thousand m2 on a plot of 224 hectares – almost directly opposite the Shushary metro station. In 2013, the St. Petersburg legal entity TOYOTA MOTOR MANUFACTURING RUSSIA LLC was merged with the Moscow legal entity Toyota Motor LLC. According to the latest reports, TMMP then showed revenue of 29 billion rubles. Since then, distribution and production revenues have been published jointly. In 2021, 332 billion rubles came out with a net profit of 22.3 billion.

Toyota is going to part with the employees of the plant amicably, promising them increased compensation up to 12 salaries.

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