MOSCOW (Pakistan Point News / Sputnik - 27th July, 2023) German carmaker Volkswagen on Thursday published its half-yearly financial report for 2023, revealing that the company had sold its assets in Russia for 125 million Euros ($139 million).
"The selling price is ��125 million," the company said.
On May 18, Volkswagen completed the sale of its Russian assets, including a car plant in the city of Kaluga, to an entity that belong to Russia's Avilon dealership. The company sold its shares in Volkswagen Group Rus LLC, including its subsidiaries (Volkswagen Components & Services LLC, Scania Leasing LLC, Scania Finance LLC and Scania Insurance LLC).
Volkswagen suspended production in Russia in March 2022, soon after Moscow launched a military operation in Ukraine. The plant in Kaluga produced Volkswagen Tiguan, Volkswagen Polo and Skoda Rapid cars.
