Mercedes-Benz to Halt Exports to Russia -- Update
March 03 2022 - 5:59AM
Dow Jones News
By Joshua Kirby and Kim Richters
Germany's Mercedes-Benz Group AG said late Wednesday that it
will suspend exports to Russia and cease manufacturing there until
further notice, becoming the latest European auto maker to withdraw
business from the country after it invaded neighboring Ukraine last
week.
"Mercedes-Benz will suspend the export of passenger cars and
vans to Russia as well as the local manufacturing in Russia until
further notice," the company said.
The car maker said it is working with suppliers in Ukraine,
which provide components for the production of its vehicles, and is
closely monitoring the situation. While all of its plants are
currently operating, the auto maker said it will temporarily adjust
some shifts at its plant in Sindelfingen, Germany, next week due to
the supply-chain issues.
The move comes after French peer Renault SA temporarily shut a
plant near Moscow, citing logistical problems.
Daimler Truck Holding AG, which was spun off from Mercedes-Benz
in the past year, said earlier this week that it would cease all
business activities in Russia and review a joint venture it
operates in the country.
Write to Joshua Kirby at joshua.kirby@wsj.com and Kim Richters
at kim.richters@wsj.com
(END) Dow Jones Newswires
March 03, 2022 05:44 ET (10:44 GMT)
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