MUNICH, March 3 (Reuters) – Volkswagen (VOWG_p.DE) is stopping its business in Russia because of the conflict in Ukraine, the company said on Thursday.
Production at Volkswagen’s Kaluga and Nizhny Novgorod sites will be suspended until further notice, and vehicle exports to Russia will be stopped with immediate effect, the company said.
“With the extensive interruption of business activities in Russia, the group management board is drawing the consequences from the overall situation, which is characterised by strong uncertainty,” Volkswagen said.
Reporting by Christina Amann Writing by Paul Carrel Editing by Madeline Chambers
