Science & Technology News

Volvo is considering the sale of business in Russia

The Volvo Group, which stopped the production of trucks in Russia at the end of February, is considering options for optimizing its business in the country, including its full or partial sale.

This information was reported by a company representative to Vedomosti, who noted that it is too early to talk about what will happen next with production sites in Russia.

“In the current situation, the Volvo Group cannot operate in Russia, so it was decided to adapt the business and start reducing the number of employees,” explained a representative of the Swedish concern.

The Russian assets of the Volvo Group include factories for welding and painting cabins, as well as the assembly of trucks with a capacity of 15 thousand vehicles per year and four service centers for servicing them in different cities of Russia.

There is no official information about the proposed sale of the Russian assets of the Volvo Group yet. If we talk about the brand's passenger cars, then, as stated in the company's press service, customers are still provided with the maximum support they need.

While import of new cars to Russia is not carried out, however, Volvo Car Russia provides warranty support within the framework of the current warranty policy and legislation of the Russian Federation.

Volvo

Volvo is considering the sale of business in Russia