Stellantis to move Russian production westward, freeze new investments

Stellantis will move its current Russian van production to western Europe and freeze plans for more investments in the country as a consequence of the invasion of Ukraine, CEO Carlos Tavares said on Friday.

In this context “new investments in Russia are not on the table,” Tavares said during a Q&A session with reporters organised by Mobility TV World.

The world’s fourth largest carmaker said on Thursday it had suspended all exports and imports of vehicles with Russia, where it operates a van-making plant in the city of Kaluga, in partnership with Mitsubishi.

The announcement came after Moscow decided a ban on exports of certain goods, including autos, and agricultural commodities, as a retaliation measure against Western sanctions imposed over its invasion of Ukraine.

(By Giulio Piovaccari and Gilles Guillaume; Editing by Keith Weir)