24 April 2024,   06:19
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Volvo suspends production and sales of cars in Russia

Spokesman Claes Eliasson said Volvo had told suppliers that it would no longer accept deliveries to the factory in Kaluga, some 150 km southwest of Moscow.

“As a consequence the production line was stopped this morning”, - Eliasson told AFP. “The reason is in part the sanctions that have come into effect and the general security situation in the region”, - he added, saying production would remain halted “until further notice”.

Sales were stopped in Russia as well as in Ukraine due to the deteriorating security situation as Moscow’s invasion of its neighbour entered its fifth day.

Sales in Russia and Ukraine accounted for 3.5% of the truck maker’s revenue in 2021 and around 5,000 trucks are produced at the Kaluga plant a year, according to Eliasson.

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