European leaders in the car industry, mainly heavy trucks, have announced plans to sever ties with Russian partners.
The Swedish truck manufacturer AB Volvo said it was suspending production and sales in Russia because of the war in Ukraine, Reuters reported.
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“We now have a little more clarity on sanctions and security in the region … that means all operations in Russia are coming to an end,” a company spokesman told Reuters, adding that the measures would be implemented until the next order.
Volvo generates about 3 percent of its sales in Russia and has one plant in the country. A company spokesman said the measure would take effect immediately and would be in effect until further notice.
At the same time Daimler Truck announced that it was suspending all cooperation with the largest truck manufacturer in Russia, Kamaz, Handelsblatt quoted Reuters as saying.
“Our cooperation with Kamaz is purely civilian in nature and was concluded only with this focus,” the company said in a statement.
“In this cooperation, we have always strictly complied with all provisions on sanctions and export controls,” the statement added.
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Daimler Truck said it was deeply shocked by the military violence in Ukraine and noted that it was closely monitoring the situation. “We will comply with all measures taken by the German government and the EU,” the company said on Twitter.
Mercedes-Benz Group in turn, is also exploring legal options for selling its 15% stake in Kamaz as soon as possible, Handelsblatt reports.
Volkswagen on the other hand, it suspends the deliveries of cars that are already in Russia to its representative offices in the country, RIA reports, citing a statement from the company.
Volkswagen will also stop the operation of two of its plants in Germany for a few days due to delays in the supply of parts manufactured in Ukraine.
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