Thursday, September 19, 2013
Toyota To Make RAV4 SUVs In Russia
NAGOYA (Nikkei)--Toyota Motor Corp. (7203) announced Wednesday that it will begin assembling RAV4 sport utility vehicles in Russia in 2016.
The automaker will invest 18 billion yen to enlarge a St. Petersburg plant and install more equipment. It will also add around 800 local workers.
The factory's production capacity will be doubled to about 100,000 vehicles a year, and it will begin making RAV4 SUVs using parts exported from Japan. Vehicles assembled there will be sold in Russia. At present, RAV4s sold there are assembled in Japan.
SUVs are growing popular in Russia. Toyota sold 27,000 RAV4s there in the first eight months of this year, reportedly making it the best-selling Toyota vehicle in that market.
The St. Petersburg factory currently produces Camry midsize sedans and employs around 1,600.
(The Nikkei, Sept. 19 morning edition)