Toyota Motor to close its factory in Russia

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Toyota Motor to close its factory in Russia
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Japan's Toyota Motor Corp said on Friday that it had decided to end vehicle production in Russia due to the interruption in supplies of key materials and parts.

Toyota's logo is seen at a Toyota Society Motors showroom in Karachi, Pakistan, July 27, 2022. REUTERS/Akhtar SoomroThis content was produced in Russia, where the law restricts coverage of Russian military operations in Ukrainesaid on Friday that it had decided to end vehicle production in Russia due to the interruption in supplies of key materials and parts.

"During this period we have fully retained our workforce and ensured our facility was ready to restart production if the circumstances allowed," it said in a statement."However, after six months, we have not been able to resume normal activities and see no indication that we can restart in the future."

"We will be offering ... assistance for re-employment, re-skilling and wellbeing, including financial support above legal requirements," Toyota said.

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