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Ford to exit Russia after joint venture stake sale

Ford to exit Russia after joint venture stake sale

On October 26, the Ford Motor Company said it had sold its 49% share in the Sollers Ford Joint Venture and would exit Russia because of the invasion of Ukraine. After the sale, the company suspended all operations in Russia, including manufacturing, supply of parts, IT, and engineering support, in March 2022.

Earlier this day, another car dealer, Mercedes-Benz, withdrew from Russia and sold shares in its industrial and financial services subsidiaries to a local investor.

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