Russian properties sold
The headline above this article may surprise you a bit, but Nissan hadn’t fully withdrawn from Russia yet. That is now happening, in response to the further escalating war that Russia has started in Ukraine.
Nissan previously decided to suspend production in Russia until the end of this year, but it is now selling its properties to the Russian state, with an option to buy them back within six years. Terminating the activities will cost Nissan about 707 million euros, the Japanese announced. It is reported that the activities will be sold to the state-owned company NAMI for one symbolic ruble. This concerns both the factories and the research facilities. Nissan built the X-Trail and Qashqai there for the local market.
It is the umpteenth major car company to leave Russia since the start of the war in February. For example, in May Renault sold its majority stake in the Russian car manufacturer AvtoVaz to a Russian investor, Toyota closed its factory in St. Petersburg permanently and Mercedes-Benz also stopped its Russian production earlier. Due to the withdrawal of western manufacturers and problems in parts supply for Russian manufacturers, car production in Russia has largely collapsed.
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– Thanks for information from Autoweek.nl