Toyota Motor Corp has decided to close its plant in Russia's second largest city, St. Petersburg, the Russian Ministry of Industry and Trade reported, as quoted by Reuters.

The Japanese automobile company "will fulfill all social obligations to the collective in the enterprise and will pay them additional compensations in a significant amount," said the ministry's announcement, quoted by TASS.

In addition, Toyota will retain warranty service for Toyota and Lexus brand vehicles and will continue to maintain its network of motor vehicle dealers.

The plant, which produced the Camry and RAV4 models, will be preserved and may be sold in the future, reports the Russian outlet Kommersant, the first media outlet to report the closure of the factory, citing anonymous sources. .

Toyota suspends work at three factories in Japan due to typhoon

"Toyota" stopped its production activity in St. Petersburg in March due to "disruption of supply chains" and suspended the import of motor vehicles to Russia, BTA recalls.

The Japanese company has not yet responded to Reuters' request for comment on the matter.

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