Stellantis to move Russian production westward, freeze new investments

Stellantis italian headquarters Turin (Stock Image)

Stellantis will move its current Russian van production to western Europe and freeze plans for more investments in the country as a consequence of the invasion of Ukraine, CEO Carlos Tavares said on Friday.

In this context “new investments in Russia are not on the table,” Tavares said during a Q&A session with reporters organised by Mobility TV World.

The world’s fourth largest carmaker said on Thursday it had suspended all exports and imports of vehicles with Russia, where it operates a van-making plant in the city of Kaluga, in partnership with Mitsubishi.

The announcement came after Moscow decided a ban on exports of certain goods, including autos, and agricultural commodities, as a retaliation measure against Western sanctions imposed over its invasion of Ukraine.

(By Giulio Piovaccari and Gilles Guillaume; Editing by Keith Weir)

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