The former Nissan plant in St. Petersburg remains operational and will produce Chinese cars, Vedomosti disclosed.

The Ministry of Industry and Trade announced the nationalization of the Nissan plant, research center and sales and marketing center on October 11. All assets will be sold to FSUE “NAMI” for 1 euro. Nissan estimated the damage in connection with the withdrawal from Russia at $686 million.

As part of the company’s closure, over the next six years, it will be possible to buy back shares with investment compensation in the Russian Federal State Unitary Enterprise.

The plant intends to hand over to Kamaz in order to transfer permission for assembly in Russia. One of the proposed partners is FAW. [Ведомости]

Source: Iphones RU

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