Germany’s Mercedes-Benz has announced it is suspending exports to Russia and halting production in the country until further notice, making it another European carmaker that is withdrawing from Russia following the invasion of Ukraine.
“Mercedes-Benz will suspend exports of passenger cars and trucks to Russia as well as local production until further notice,” the company said.
The carmaker said it was working with suppliers in Ukraine, who supply parts for its vehicles, and was closely monitoring the situation.
While all its plants are currently operating, the carmaker said it would temporarily adjust some shifts at its plant in Sindelfingen, Germany, next week due to supply chain problems.
The move comes after Renault announced it would temporarily close a plant near Moscow, citing logistical problems.
Daimler Truck Holding, which spun off from Mercedes-Benz last year, said earlier this week it would shut down all business in Russia and reconsider a joint venture operating in the company.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
