Nissan has announced its exit from Russia, pending the sale of its business there to the state Central Research and Development Automobile and Engine Institute.
The move, expected to incur a loss of ¥100 billion (£620 million), covers all of the brand’s Russian interests. This includes the St Petersburg manufacturing and R&D facilities, plus its Moscow sales and marketing headquarters.
The sale is for a nominal fee, reported . Alliance partner Renault is said to have sold its stake in Russian brand Avtovaz for one rouble (£0.01) in May.
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