The Swedish automaker Volvo has suspended operations in Russia amid the Russian military operation. The company will stop producing and selling cars in the country. This was reported by The Wall Street Journal, citing a company representative.
“Due to the military conflict in Ukraine, the situation in the region, the effect of sanctions and export control rules, the Volvo Group is forced to temporarily suspend its activities in Russia and take further measures to comply with the current rules,” the source said.
Volvo has one plant in Russia, which is located in the Kaluga region. Earlier, work in Russia was suspended by Daimler Truck, which, in particular, stopped working with KamAZ, which produces two models based on Mercedes cabs. On February 24, Russian President Vladimir Putin announced the start of a military operation in Ukraine.
How the military operation in Ukraine will affect the Russian car market – in the material “Kommersant” “European automakers suspend work in the Russian Federation.”