Currently reading: Nissan announces total exit from Russian market
Nissan is selling manufacturing and sales assets to state with six-year buy-back agreement in place

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 €1 (£0.88), reported Reuters.

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