12.7 C
Thursday, May 23, 2024

Russia. Isuzu Motors, the truck manufacturer, is leaving the Russian market

Must read

- Advertisement -

Isuzu Motors is ending operations in Russia, Kyodo news agency reported. The Japanese truck maker stopped work at its Russian factory in March 2022 due to the Kremlin’s invasion of Ukraine.

The company announced the sale of all shares in the local company Isuzu Rus to the Russian automotive concern Sollers. The Russians took over the factory in the city of Ulyanovsk in the south-west Russiawith approximately 200 employees.

Isuzu Motors leaves the Russian market

Due to the suspension of production on the Volga, the company recorded a loss of 1.7 billion yen in the fiscal year ended in March. The management of the concern recognized that it would be difficult to continue operations in the face of ongoing war in Ukraine and uncertain international situation around Russia.

- Advertisement -

Isuzu started production in Russia in 2008. The company’s website published data according to which in 2021, 3.7 thousand were produced there. vehicles.

Other Japanese automakers, including Toyota, Nissan and Mazda, also announced they were ceasing activity in the Russian market. Mitsubishi Motors has suspended operations in the country and is in talks with a local partner to withdraw from Russia, Kyodo reported.

Main photo source: EPA/MAXIM SHIPENKOV

Source link

More articles

- Advertisement -

Latest article