The Japanese carmaker Toyota passed ownership of its St. Petersburg plant to the automotive research institute NAMI, Russia's Ministry of Industry and Trade announced on Friday.
"The agreement implies the complete transfer of ownership of the factory building, equipment, and land," the ministry emphasized in the statement.
Last year, Toyota decided to end its operations at its St. Petersburg plant on September 23, following the beginning of the war in Ukraine. Similarly, Russia nationalized Renault SA assets in May.
