Toyota to build new plant in Russia
Japanese automaker Toyota Motor Corp. announced a decision to build a new vehicle production plant in the Shushary district of St. Petersburg, Russia. The plant will be operated by Toyota's Russian subsidiary, Toyota Motor Manufacturing Russia (TMMR). Toyota's new plant, which is scheduled to start operations in December 2007, will have an annual production capacity of 50'000 units. Toyota will initially invest Yen 15 billion (around $137 million) in plant and equipment. Last year in Russia, Toyota sold 47'000 vehicles via TMMR and other trading companies.