Volkswagen sold its plant in Russia and finally left the market

Volkswagen sold its shares of Volkswagen Group of Rus LLC. Currently, the German brand has completely left the Russian market. Volkswagen sold its plant in the Russian city of Kaluga and a share of its local subsidiaries. Disputes with the Russian authorities over the agreement took several months. This was told on the brand website. Volkswagen sold its shares to Volkswagen Group of Rus LLC Art-Finance LLC, which is supported by the Avlon dealership group.

The agreement also included the production capacity of the concern in Kaluga. The details of the amount of the agreement are not disclosed. However, the sources said it amounted to $ 138 million. By the way, the Volkswagen plant in Kaluga stopped working since March 2022. The reason was the full -scale military invasion of the Russian Federation into Ukraine, which has been taking place since February 24, 2022. The Kaluz plant has a production capacity of 225,000 cars per year.