After GM and Volvo, Ford too suspends operations in Russia
Ford CEO Jim Farley took to Twitter to share that Ford is suspending its limited operations in Russia with immediate effect and will take action to support the Global Giving Ukraine Relief Fund. With this announcement, Ford joined forces with other top automakers such as GM, Volvo, Harley-Davidson and Daimler Truck who had earlier declared their decisions to temporarily pause their businesses in Russia.
In the statement issued, Farley stated the concern in the Ford team about the invasion of Ukraine and the threat it has posed to peace and stability. “The situation has compelled us to reassess our operation in Russia. Given the situation, we have today informed our JV partners that we are suspending our operation in Russia, effective immediately, until further notice," added Farley.
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Automakers such as General Motors and Volvo were the first ones to announce the temporary suspension of their operation in Russia. GM in a statement stated their support for the people of Ukraine at this time. “The loss of life is a tragedy and our overriding concern is the safety of people in the region," shared the US-based automaker. Volvo too shared similar concerns for their suspension move and AB Volvo too has suspended its production of trucks in the country. Volvo sells around 9,000 vehicles and GM sells around 3,000 vehicles in Russia.
Daimler Truck also has paused its business activities in Russia and is also reassessing its collaboration with Russian truck maker Kamaz. As per Handelsblatt newspaper, Mercedes-Benz Group is looking to divest its 15 per cent stake in Kamaz as soon as possible.