Nissan Announces Total Exit From Russian Market

Nissan has announced its exit from Russia, pending the sale of its business there to the state Central Research and Development Automobile and Engine Institute.

 

The move, expected to incur a loss of ¥100 billion (£620 million), covers all of the brand’s Russian interests. This includes the St Petersburg manufacturing and R&D facilities, plus its Moscow sales and marketing headquarters.

The sale is for a nominal fee, reported . Alliance partner Renault is said to have sold its stake in Russian brand Avtovaz for one rouble (£0.01) in May.

 

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