Business

Mitsubishi stops production at Russian plant it co-runs with Stellantis

 

Mitsubishi halts production at Russian plant it co-runs with Stellantis

 

The logo design of Mitsubishi Motors Corp is shown at the business’s display room in Tokyo, Japan January 18, 2019

Japanese car manufacturer Mitsubishi Motors (OTC:) stated on Friday it had stopped production at a Russian van plant in Kaluga that it owns with Stellantis till additional notification, signing up with other significant carmakers that have halted operations in Russia.

“Due to the logistical problems, automobile exports and parts supply to Russia have been suspended considering that March,” Mitsubishi stated in a declaration.

Japan has signed up with the United States and other allies in slapping extra sanctions on Russia, consisting of freezing possessions of the nation’s leaders and 3 monetary organizations, to penalize Russia for what Moscow calls “a unique military operation” in Ukraine that began on Feb. 24.

VW, Stellantis Russia car production hit by sanctions over Ukraine |  Automotive News Europe

Stellantis, the world’s 4th biggest automaker, stated in late March it would have to close the Kaluga plant quickly as it was running out of parts.

It was not right away clear whether Stellantis had stopped its operations too in Kaluga.

The business, which had earlier suspended all exports of cars and trucks to Russia as well as all imports from Russia, was not right away readily available for remark on Friday.

Stellantis has likewise stated it was moving its present production to western Europe and freezing strategies for more financial investments in Russia while keeping van production in Kaluga simply for the regional market.

New car and truck sales in Russia fell 62.9% year-on-year in March, contracting for a ninth straight month, as the market experienced a severe scarcity and skyrocketing rates triggered by a sharp rouble drop and interfered with logistics.

Read more

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Popular

To Top