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.
