The Japanese automotive concern Nissan has decided to withdraw from the Russian market. The company sells all its assets together with the Sankt-Petresburg Plant and the Moscow Marketing Center. The decision is due to the fact that since March, the group’s operations have been suspended due to the interruption of supply chains.
The entire transaction is to be only EUR 1, but Nissan may buy the company within 6 years from the conclusion of the contract, and the new owner is to guarantee a 12-month employment protection period for local employees. Nissan’s entire potential loss from withdrawing from the Russian market is estimated at $ 3.5 billion. The company’s management believes that, despite everything, they will manage to achieve their business goals.
On behalf of Nissan, I would like to thank our Russian colleagues for their many years of contribution to the business. While we are unable to continue in the marketplace, we found the best possible solution to support our people – says Nissan CEO Makoto Uchida.
