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Volkswagen is looking for a home for its Russian factory
Source: | Author:Jane Wang | Publish Date :2022-10-21 | 128 Times Viewed: | Share:

Volkswagen is looking for a home for its Russian factory

Volkswagen is looking for investors to take over its plant in Kaluga, southwest of Moscow. Currently, the plant is idle.

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Foreign media said that Volkswagen was considering various scenarios of its future in Russia. However, as far as we know, Volkswagen has not made any decision. However, it is reported that one option is to simply sell its assets to a third party.

A source close to the Volkswagen Board of Supervisors said: "We have a clear intention to withdraw from the country." With the decrease of local demand, the company is likely to make a final decision.

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In July, Volkswagen closed the operation of its other Russian factory in Nizhny Novgorod. It was reported that the company was paying employees for leaving.

It is worth noting that Volkswagen is only the latest automaker to exit the Russian market. In early October, Nissan sold its Russian factory. In addition, in September, Toyota officially closed its St. Petersburg factory