Mercedes-Benz leaves Russia and sells assets

26.10.2022, 15:50 pravda.com.ua

German car manufacturer Mercedes-Benz is leaving the Russian market; the company is selling its factories in the Moscow suburbs and all its property to a local investor.  Source: Russian media outlets, citing the company’s official statement [statement can be heard in the "Rebroadcast call for analysts and investors" video at 17:29 - ed.] and sources on the Russian market.  Quote: "Mercedes-Benz intends to leave the Russian market and sell its shares in local subsidiaries [JSC Mercedes-Benz RUS, Mercedes-Benz Manufacturing Rus Ltd., Mercedes-Benz Financial Services Rus Ltd., Mercedes-Benz Bank Rus Ltd., OOO Mercedes-Benz Capital Rus - ed.] to a local investor," Harald Wilhelm, member of the Board of Management of Mercedes-Benz AG,  said in a statement.