Japanese automaker Nissan says it is pulling out of Russia

TOKYO (AP) — Japanese automaker Nissan Motor Co. says it plans to sell its Russian operations to its local partner and end manufacturing there. The company said Tuesday that its executive committee approved the sale to Russia’s Central Research and Development Automobile and Engine Institute, or NAMI. The company said the sale includes Nissan’s factory and R&D facilities in St. Petersburg and its sales and marketing center in Moscow. Nissan suspended manufacturing in Russia in March after the invasion of Ukraine. The company said the terms of the sale give Nissan the option to buy back its Russian business within the next six years.