Categories: Automobiles

Stellantis stops production in Russia

The Stellantis Group has announced the discontinuation of vehicle production at its Kaluga, Russia plant. The decision was taken “to ensure compliance with the numerous sanctions and to protect employees”, reads a press release issued by the Group today.

The decision comes “Due to the daily tightening of the numerous sanctions and logistical difficulties”, Stellantis added. The company condemned the violence and stressed that it supports any action that can restore peace.

With Stellantis, most car manufacturers have ceased production in Russia

The Kaluga plant, 180 km southwest of Moscow, is opened in collaboration with Mitsubishi, where it builds medium-sized vans for the Citroën, Opel and Peugeot brands. The site’s 2,700 employees are now either technically unemployed or on leave until the beginning of June, as the Group explains in the press release.

At the end of March, Stellantis CEO Carlos Tavares stated that la production a Kaluga could be forced to cease production due to a decrease in the supply of parts. Stellantis previously said it would suspend imports and exports of cars from Russia following the invasion of Ukraine.

The Stellantis Group, it then moved part of its production to France and England. To date, following Stellantis’ decision, most car manufacturers have now stopped producing in Russia. Sales of new cars in Russia in March fell by 63%, marking a “minus” for the ninth consecutive month.

However, the automaker’s announcement had a negative impact on the shares of the Milan Stock Exchange. This morning the price of Stellantis fell by 6.21% at € 13.2 per share.

Published by
John Vassallo

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