Mercedes-Benz To Withdraw From Russian Market

October 26, 2022 Business, Russia

Mercedes-Benz said on Wednesday it would withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest carmaker to exit the country.

Japan’s Nissan this month took a $687 million loss in handing over its business in Russia to a state-owned entity for one euro, mirroring an earlier move by Renault which sold its majority stake in Russia’s Avtovaz for one rouble.

Read the full article. Photo: Mercedes CFO Harald Wilhelm.

Mercedes-Benz said it would withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest carmaker to exit the country https://t.co/ktRR1pKNtx

— Reuters (@Reuters) October 26, 2022