Actuality December 21, 2007

   One of the largest world carmaker – company Toyota Motor Company began production of cars in Russia.

The first car rolled off the plant

assembly line constructed in Shushary industrial area near St.

Petersburg.

   The company president Katsuaki Vatanabe, the ex-prime minister of Japan Yasiro Mori, the head of the Ministry of Economic Development and Trade of Russia Elvira Nabiullina, the head of the Savings Bank of Russia German Gref and St. Petersburg governor Valentin Matvienko took part in launch of the assembly line. The capacity of the first stage of production will make 20 000 cars a year. Then it can be increased to 50 000 a year, and in long-term prospect – to 200 000 a year. At the Russian plant such model as Toyota Camry will be produced.

The first lot of cars from the plant will be sent to dealers. The automotive corporation investigates the organization possibility of production of large plastic details and punching production at

the plant. The total amount of investments into the project of Toyota enterprise construction near Petersburg totaled about RUR 4 billion ($160 million). There are about 600 workplaces at the plant.

   We will remind that the agreement between the Japanese corporation, the government of Russia and the administration

of St. Petersburg was signed in April, 2005. Solemn ceremony of laying of the foundation stone of car plant took place in the Shushary area in June, 2005.

   Toyota Company is one of five carmakers that during some previous years took the dec ision to start their production in St. Petersburg. In summer, 2007 the Ministry of Economic Development and Trade of Russia and Japanese Suzuki and Itochu Corporation signed the agreement about the start of industrial assembly of Suzuki cars in St. Petersburg. Plant construction should begin in the first half of 2008; its start is planned for the second half of 2009.

Four-by-four SUV Grand Vitara will become the main product of the Russian plant.

   In the beginning of November, 2008 near St. Petersburg General Motors plans to start factory at the cost about $300 million and capacity 70 000 cars a year. Among the makes that GM will

make in St. Petersburg there are SUV Captiva.

And Japanese carmaker Nissan is going to start production of cars near St.-Petersburg in April-May, 2009. At the plant that is being constructed it is planned to produce about 50 000 cars of two makes, Teana and X-Trail, a year.

Investments are estimated at $200 million.

   The government of the Russian Northern capital and management of Korean company Hyundai signed the agreement about plant construction in St.

Petersburg industrial zone Kamenka. It is expected that works will begin in June, 2008.

The Korean investors plan to invest in creation of new production $400 million. The enterprise will produce about 100 000 cars a year.

Besides, in the end of 2006 the Ministry of Economic Development and Trade of the Russian Federation and Japanese company Mitsubishi signed the memorandum of possibility of car assembly plant construction of this make of car in Russia.

However, the sum of investments, the place of its possible location, terms of the project realization and makes of cars planned for production are not mentioned in the document. Some producers of car parts and accessories also show interest in starting their productions in St. Petersburg and Leningrad region.