On March 4th Toyota had to suspend manufacturing operations at the Saint Petersburg plant due to the interruption in supply of key materials and parts. Since then, Toyota have been closely monitoring the situation and evaluating the future sustainability of Toyota’s business in Russia.
During this period, Toyota fully retained its workforce and ensured the facility was ready to re-start production if the circumstances allowed. However, after six months, Toyota has not been able to resume normal activities and sees no indication that Toyota can restart in the future.
The decision to terminate the production of Toyota vehicles in Russia is not one that Toyota have taken lightly. Over the last 80 years Toyota have developed the business and the brand with the support of stakeholders around the world. Toyota said, “We must now act in a way that allows us to protect the values and principles that our predecessors built up and be confident that we can pass them on to the next generation”.
Toyota has also determined that the operations in Moscow need to be optimized and restructured―with the clear objective of retaining an effective organization to continue supporting the retail network in providing ongoing service to existing Toyota and Lexus customers in Russia.
We would like to thank our employees for their hard work and loyalty. In recognition of their valued contribution, we will be offering them assistance for re-employment, re-skilling, and well-being, including financial support above legal requirements.
