Mitsui & Co., Ltd. has been expanding sales of Japanese-made small- and medium-sized trucks in Russia through Hino Motors Sales, LLC ("Hino Russia"), an entity established in 2008 and owned 65% by Hino Motors, Ltd. and 35% by Mitsui. Hino Russia has now decided to build an assembly factory for small- and medium-sized trucks.
In advance of the factory construction, on October 9, 2017 Hino Russia and Moscow State government held a signing ceremony of a cooperation agreement at the Moscow Oblast Government office building, in the presence of Governor of the Moscow Oblast, Andrey Vorobyov and Deputy Chairman & Minister of Investments and Innovations of the Moscow Region, Denis Butsaev.
Since Hino Russia entered the Russian market in 2008, sales have steadily increased, and the trucks have been widely recognized for their high quality and durability. With further growth forecasted for Russia's truck market, the decision to pursue local assembly is aimed at strengthening competitiveness and building firm roots for the brand in the market.
Construction will begin in the spring of 2018, and production is planned to start in mid-2019 with an expected production capacity of around 2,000 trucks per year. Through this project, Mitsui aims to expand mobility business in Russia and contribute to the nation's logistics development.