Hino Motors has canceled plans to build a new plant in Russia.
Due to a series of scandals related to inspection data, the shipment of trucks in Japan has almost stopped, and we have been forced to review our overseas business strategy.
Hino Motors has been constructing a truck assembly plant in Moscow, Russia since 2019 in order to expand its business in Russia. became.
The company initially planned to expand its business in Russia by embarking on local production in anticipation of significant growth in demand for trucks in Russia.
However, it seems that they decided to cancel the construction because the benefits could not be expected due to delays in construction work and tax reasons.
On the other hand, Russia's military invasion of Ukraine is not directly related to the cancellation of the plan, and the export of trucks from Japan to Russia, which is currently suspended, will be decided based on the future situation. .
Hino Motors has been exposed to a series of fraudulent problems such as submitting fraudulent data such as exhaust gas to the government, and it is an unusual situation that almost halts domestic truck shipments.
The company plans to double its global sales volume by fiscal 2025 by strengthening overseas markets such as Russia and Southeast Asia, but it will be forced to review its overseas business strategy. It's a shape