SAINT PETERSBURG, Dec. 21, 2007 (Thomson Financial delivered by Newstex) — Toyota Motor Corp inaugurated a new car assembly plant in Saint Petersburg on Friday as the Russian car market booms and the Japanese automaker aims to become the biggest producer in the world.
Toyota CEO Katsuaki Watanabe attended the opening of the Shushary plant, which will assemble around 20,000 Toyota Camry vehicles per year. Russian President Vladimir Putin was due to tour the factory later Friday.
‘There has been unprecedented growth in the Russian market. It has doubled in the last five years. We think the potential of the market is enormous,’ Watanabe said at the ceremony.
