The company retains the right to return assets for another 5 years. The automaker giant Ford Motor (USA) announced the sale of Russian assets and withdrawal from the local market.
According to RIA Novosti, the company has bequeathed its assets to a joint venture with Sollers Ford.
Ford’s release, which is referred to by the media, says that the company has finished exiting the Russian market, the asset sale process has been completed, operations in Russia have been suspended.
The document says that she sold her 49% stake in the JV “Sollers” at face value.
At the same time, Ford retains the opportunity to buy back shares for another five years, “ if the situation in the world changes”, the document quotes Interfax “. Other details of the transaction were not disclosed.
Recall that Ford Motor Company announced the suspension of its work at the beginning of its own, on March 2, 2022.
According to “Izvestia ”, which appeal to the information of “Autostat ”, in three days in early October, 2,916 cars of the brand were sold, only 30.3% of total sales.
Analysts recognize Chery (1,148), Haval (771), Geely (538) and Exeed (252) as the most popular car models among Russians.
As Topnews wrote earlier, on October 26, Mercedes-Benz announced its withdrawal from the Russian market. The Russian plant was given to the dealer company “Motorhome”.
They also left the Russian segment due to EU sanctions and with the help of Renault, Nissan, there was a closure of the Russian Toyota plant.