Japanese car-making giant Toyota, Japanese trading house Mitsui & Co and Russian automaker Sollers will launch joint car production in the far eastern city of Vladivostok in 2012, Japanese business daily Nikkei said on Thursday.
Toyota will provide parts and production technologies for the joint venture, which will aim to roll out 30,000 Toyota-brand vehicles a year, the paper said.
The Vladivostok car plant is expected to assemble sedans and off-road vehicles. The participants of the Joint Venture will discuss production details and financing this month.
Initially the companies plan to operate the production facilities of Sollers. Under the business plan, Toyota will supply car parts from Japan while Mitsui will transport cars via the Trans-Siberian Railway for sale across Russia, Nikkei said.
Toyota will become the first Japanese carmaker to assemble cars in Russia's Far East.
TOKYO, February (RIA Novosti)