Toyota plans to increase local content in Camry sedan in Russia

Total investment at the Russian plant is expected to reach RUB16 billion (USD298.7 million).

Toyota Motor Corporation has increased local content in its flagship Camry model in Russia, reports Autocar Professional. Last month the Japanese automaker started production of the new Camry sedan at its St Petersburg plant. Toyota invested RUB2.7 billion (USD50.4 million) to set up a plastic moulding facility and stamping shop at its Russian plant to increase local content to 30%. Toyota is mulling doubling production capacity at the St Petersburg plant from 50,000 units to 100,000 units by end-2015. Toyota also plans to start production of a second model, RAV4, in 2016. The company’s total investment at the Russian plant is expected to reach RUB16 billion (USD298.7 million). The planned investment is expected to result in 800 new jobs at the plant, which currently employs 1,800 people. "Toyota is committed to sustainable development in Russia, and therefore we have planned a significant future expansion here in St Petersburg with a doubling of the capacity in 2015 and the introduction of RAV4 in 2016.