Japanese car makers Toyota and Honda have joined the growing list of corporates pulling out of Russia as the Ukraine crisis continues to intensify.
They follow western car makers Volkswagen, Volvo and General Motors, motorcycle maker Harley-Davidson, as well as several oil majors and technology titans, such as Apple and Meta in suspending or limiting business ties with Russia amid the military conflict.
Toyota said it is halting production at its plant in St Petersburg from Friday, and will halt vehicle shipments to Russia.
“Toyota is watching the ongoing developments in Ukraine with great concern for the safety of people of Ukraine and hopes for a safe return to peace as soon as possible,” the company said. “We are also monitoring global developments and will make necessary decisions as required.”
Honda said it will stop exports of cars and motorcycles to Russia due to challenges around distribution and finances. It plans to resume shipments once the situation returns to normal. Honda doesn’t have a factory in Russia, but it exports about 1,500 SUVs annually to the country from plants in the US, according to Japanese broadcaster NHK.
Mazda is also suspending shipments of parts to a plant in Russia, financial newspaper the Nikkei reported.
Mitsubishi Motors on Tuesday said it may suspend production and sale of its cars in Russia as sanctions imposed on Moscow could trigger supply chain disruptions.
Jaguar Land Rover Automotive, which is owned by India’s Tata Motors, has also halted deliveries of its luxury vehicles to Russia.