Japan's largest automaker Toyota Motor Corp. is looking at the economic perspectives of producing Toyota automobiles in Russia, according to Japanese information agency Kyodo News.
Toyota Chairman Hirosi Okuda is expected to arrive in Russia next week. Already this past spring there were reports of plans by Toyota, which were confirmed at the end of August during Presidential Plenipotentiary for the Volga Federal District Sergei Kirienko's visit to Japan. The latest reports of the company's plans are from sources close to the leadership of Toyota. The company is looking at the possibility of producing its popular Toyota Corolla and off-road Toyota Land Cruiser in Russia.
The fast-growing Russian automobile market is especially attractive for Toyota and its competitors - US companies General Motors and Ford. In 2002 approximately 80 thousand Toyota automobiles were sold in Russia led by the Toyota Corolla, Camry and Land Cruiser 100.