Nissan to exit Russian market, approves sale of Russian operations to NAMI

Nissan announced that it has approved the sale of its Russian operations to NAMI, the Central Research and Development Automobile and Engine Institute. The move to sell its arm in Russia signals the Japanese automotive brand’s imminent exit from the market.

According to Nissan, the sale will transfer all Nissan operations in Russia under the Nissan Manufacturing Russia LLC (NMGR) legal entity to NAMI for future passenger vehicle projects. This covers Nissan’s manufacturing as well as its research and development (R&D) facilities in St. Petersburg, and the firm’s Sales Marketing center in Moscow, which will operate under a new name.

Under the new ownership of the NMGR entity, all of Nissan’s employees in the market will receive employment protection for 12 months.

The sale is expected to be formalized in the coming weeks following approvals from the relevant authorities. The terms of the sale allows Nissan to buy back the operations within the next six years.

“On behalf of Nissan, I thank our Russian colleagues for their contribution to the business over many years. While we cannot continue operating in the market, we have found the best possible solution to support our people,” said Nissan President and Chief Executive (CEO) Makoto Uchida.

Photos from Nissan

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