“volvocars said it will not deliver cars to the Russian market until further notice.' Becoming the first international carmaker to do so as sanctions over Moscow’s invasion of Ukraine continue to bite. — via drivingdotca autonews volvo businessnews
In a statement provided by email, the company said it had made the decision because of “potential risks associated with trading material with Russia, including the sanctions imposed by the E.U. and U.S.”A Volvo spokesman said the carmaker exports vehicles to Russia from plants in Sweden, China, and the United States. Volvo sold around 9,000 cars in Russia in 2021, based on industry data.
Last week several companies, including automakers Volkswagen and Renault and tire maker Nokian Tyres, outlined plans to shut or shift manufacturing operations following Russia’s invasion of Ukraine., since the cars’ electrical cables come from a Ukrainian supplier. “Production of compact battery-electric cars built on the VW Group’s MEB platform will be affected,” reported.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia, Ukraine meet for talks; Russia shells Ukraine's second-largest city: LIVE UPDATESBelarus may join the Russian invasion of Ukraine, which entered its fifth day on Monday. Fighting in the streets has engulfed Ukraine's second-largest city, Kharkiv, and Russian troops are encircling Ukraine's capital city, Kyiv.
Read more »
Russia-Ukraine live updates: Ukraine, Russia at Belarus border for talksLATEST: As Ukrainian and Russian delegations meet for talks, an immediate ceasefire and a “neutral status” are the key items to be discussed, officials say.
Read more »
Russia-Ukraine live updates: Putin puts nuclear forces on high alert; Ukraine announces talks with RussiaUkrainians held Kyiv and Kharkiv as Putin's invasion intensified, and President Volodymyr Zelensky accused Russia of attacking civilians.
Read more »
Russia-Ukraine live updates: EU announces strict actions against RussiaA massive blaze engulfed an oil depot in a small town near Kyiv, Ukraine, amid the ongoing Russian invasion of the country.
Read more »
Disney First Hollywood Studio to Pause Theatrical Releases in RussiaThe company says it 'will make future business decisions based on the evolving situation' in Ukraine, which Russia invaded last week.
Read more »