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HomeAutoSo it was with Renault: Nissan's Russian assets were transferred to US

So it was with Renault: Nissan’s Russian assets were transferred to US

The Nissan Executive Committee approved the sale of its Russian assets, including the plant, which will become state property represented by FSUE NAMI, as reported by TASS with reference to the press service of the Ministry of Industry and Trade of the Russian Federation. The amount of the transaction is not specified. The Nissan plant in St. Petersburg has suspended work since March 14.

The deal involves the transfer of 100% of Nissan’s assets in Russia (managed by the legal entity Nissan Manufacturing Rus) to NAMI. This includes Nissan’s production and research facilities in St. Petersburg, as well as a sales and marketing center in Moscow.

Ministry of Industry and Trade of the Russian Federation

The deal includes an option to buy back Nissan Manufacturing Rus’ stake, which can be exercised over the next six years. AvtoVAZ will provide after-sales service for Nissan vehicles and supply spare parts.

 

Nissan Manufacturing Rus transfers its assets to the state – this transaction is important for the industry. As a result of the negotiations, it was possible to reach a format in which the enterprise remains operational: key competencies, the production cycle and jobs are preserved – and this is about 2 thousand employees of the enterprise. NAMI has the opportunity to attract other companies as production partners, to create joint ventures.

Head of the Ministry of Industry and Trade of the Russian Federation Denis Manturov

The deal is the best possible solution to support employees, according to Nissan President and CEO Makoto Uchida.

On behalf of Nissan, I would like to thank our Russian colleagues for their contribution to the development of our business over the years. We are currently unable to reopen our businesses, so the best possible solution has been found to support employees.

Makoto Uchida

Recall Renault left the Russian market in May 2022 of the year. The assets were transferred to the Ministry of Industry and Trade and NAMI with the possibility of repurchase within six years, the Moscow plant was transferred to the balance of Moscow free of charge.

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