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OREANDA-NEWS. Far Eastern joint venture "Sollers-Bussan" of the production of off-road vehicles Toyota Land Cruiser Prado stopped the production of cars; a cooperation agreement terminated.

Updated SUV Toyota Land Cruiser Prado is produced at the Toyota Tahara plant, and it will be imported to the Russian market from Japan, wrote the newspaper "Kommersant". Earlier the model was manufactured at the plant "Sollers" in Vladivostok ("Sollers-Bussan" – is a parity joint venture "Sollers" and Mitsui & Co.). As it was explained by the distributor of Toyota in Russia, the assembly was stopped on June 26th and the quadripartite agreement (between the "Sollers", "Sollers-Bussan», Mitsui and Toyota Motor Corp.) has terminated. Toyota informed that the gap of the contract is not related to the current market situation and it does not have a political agenda: "Partners came to the conclusion that the project is not feasible economically in the long term". Joint venture operates under the agreement on industrial assembly of 25 thousand cars (it gives customs exemptions on the import of components). The Ministry of Economy said that the agreement with "Sollers-Bussan" continues to operate.

As the model also was supplied from Japan before, the transition on imports will not affect the price, but it can be changed as the model is updated, specified in the Toyota. Recommended retail prices start from 1.9 million rubles for the Land Cruiser Prado. "Sollers" reported that, together with Mitsui company it is considering the production of other models at "Sollers-Bussan," so it is not planned the staff reductions at the plant.