Swedish company Volvo Group is considering options to exit the Russian market. The company plans to fully or partially sell its business, Russian media Vedomosti reports.
Volvo Group stopped production in Russia at the end of February, when Russia invaded Ukraine.
It is expected that the deal may be concluded at the end of 2022 or in Q1 of 2023. Currently, the company's Russian assets include plants for welding and painting cabins. In addition, the company produced 15 thousand units of equipment per year in Kaluga. The Swedish company also had four service centers for their maintenance in different cities of Russia.
