The new date is Oct 11, 2022.
Nissan will sell its Russian business unit to the state-owned automotive institute for a token sum of 1, the Japanese car maker said on Tuesday.
There is a Nissan logo on the grounds of the factory.
The entire Nissan Manufacturing Russia, including its local manufacturing and R&D facilities in Saint Petersburg and its Sales and Marketing unit in Moscow, will be sold.
Nissan expects to record a one-time loss due to the exit.
A clause in the deal will allow Nissan to buy back the Russian unit within six years.
In March, Nissan stopped manufacturing and imports into Russia.
In a notice sent out to shareholders, the carmaker said it had been monitoring the situation closely but saw no change in the environment.
Nissan is the latest global company to leave the Russian market because of international sanctions. In May of this year, Nissan's cross-shareholder, the French company, fully exited Russia after selling its majority stake in Avtovaz toNAMI. Toyota said last month that it was ending vehicle production at its plant. Toyota will still provide servicing and repairs for vehicles already sold to customers in Russia. Volkswagen halted operations at its two Russian factories and stopped all imports into the country. Forbes Russia reported in a few months that the German automaker may be planning to sell its plants in Russia. Mercedes-Benz and GM have stopped manufacturing in Russia.
Many multinational companies have stopped their operations in the Russian market. The local bottlers of several of the popular soda brands ran out of their remaining supply. Coca-Cola stopped making soda in Russia in August. Starbucks and McDonald's have left the country. Nike and H&M have left the country recently.
Nissan took a $687 million loss as it sold its Russian business.
Toyota will stop production and sales in Russia.
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