Toyota to invest USD181mil.in St Petersburg plant
Toyota will build up to 50,000 RAV4 units per annum from completely knocked down kits (CKD)
Toyota is planning to invest USD181 million in its existing Russian production facility in St Petersburg to expand production capacity and prepare the plant to manufacture its RAV4 sport utility vehicle (SUV) by 2016, according to a Reuters report. Speaking about the investment Toyota spokesperson Ryo Sakai said, "Demand is growing and the RAV4 has become Toyota's best-selling model in Russia, so we will start producing the model locally based on a longer term standpoint."
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