3/2, 4:58 PM (Source: TeleTrader)
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Toyota to halt production in Russia - report

Toyota Motor Corporation has announced on Wednesday that it will be suspending production in Russia due to not being able to procure necessary auto parts from abroad, Nikkei Asia reported.

The company will also be halting exports to Russia, becoming one more in a long line of automakers that have withdrawn from the Russian market after Daimler Truck Holdings and Volvo suspended further operations in the country and Honda Motor, BMW and Jaguar Land Rover stopped shipments to Russia.

Toyota's decision is not only the result of a reputational risk due to Moscow's invasion of Ukraine but is also influenced by the growing inability to continue regular manufacturing due to extensive supply chain disruptions.

Baha Breaking News (BBN) / SP