Swedish truck manufacturer AB Volvo has suspended production and sales in Russia due to the Ukrainian crisis. This was reported to Reuters by a company representative on Monday.
“We now have a little more clarity on sanctions and security in the region… which means all operations in Russia are halted“, a spokesman for the company said, adding that the measures would be applied until further notice. The Volvo plant with a capacity of about 15,000 trucks per year is located in Kaluga, Russia accounts for about 3% of Volvo Group’s sales.
Another message to Reuters refers to the suspension of passenger cars in the Russian market “until further notice“. The decision was made due to the potential risks that may arise in connection with the sanctions imposed by the European Union and the United States.
Recall that Volvo is far from the first automaker to suspend the supply of cars to the Russian market. Earlier, Audi, Volkswagen, Skoda, Land Rover and other companies said the same.
Source: ixbt
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