Mercedes-Benz’s Russian business will be sold to local car dealership chain Avtodom which will take over the German carmaker’s factories.
Mercedes-Benz has agreed to sell its Russian unit to a local investor, the company and Russia’s trade ministry announced on Wednesday, joining the likes of Nissan, Renault, Toyota and other car makers who have recently exited the country amid its ongoing invasion of Ukraine.... [+]issued on Telegram, the Russian ministry of industry and trade said Mercedes-Benz will sell its Russian assets—including its manufacturing plants—to local car dealer chain Avtodom.
The deal will allow Avtodom to retain “highly qualified jobs and competencies” at the Mercedes-Benz plant, although it is unclear if all workers at the plant will retain their jobs. After completion of the deal Avtodom will also provide maintenance support for existing Mercedes-Benz owners in Russia.the move while announcing its third quarter results on Wednesday and said it did not expect the transaction to have any major impact on the company’s profitability beyond what has already been reported in previous quarters.Mercedes had previously suspended manufacturing and imports into Russia in March.