Headquartered in Germany, one of the world’s largest automobile manufacturers Volkswagen after that Michelin put the last point in the adventure of Russia laid.
The Russian occupation of Ukraine continues sadly. As part of the sanctions against this occupation, many companies continue to stop operating in Russia. The last name on the agenda in this regard is one of the tire giants. Michelin it happened. Michelin became the last company to announce its exit from Russia, stating that it sold its two local companies for an undisclosed amount. French tire giant specifically includes Michelin Russia Tire Manufacturing Company and Camso CIS, one of Russia’s largest tire distributors. Power International TiresDecided to sell to . As we said above, one of the companies that took steps in this regard before Volkswagen had happened. The company, which has now officially left Russia, has sold all the shares and factory of its subsidiaries in Russia. The German automaker reportedly agreed with a Moscow-based company called Avilon for this sale. The exact number is not yet given, but according to some reports, Avilon has expanded the Russian operation of the giant manufacturer and its location in Kaluga. (It has the capacity to produce 225 thousand vehicles per year) to buy the factory approximately 125 million euros paid. Stating that the agreement was approved by the Russian government officials, the company implemented the factory in Kaluga with an investment of 774 million euros in 2007, started mass production in 2009, and made the decision to stop production after the invasion of Ukraine in 2022.
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In Russia, other giant manufacturers have also come to the fore. For example, within the scope of the sanctions, it decided to stop production in its factory in Russia. Renault100 percent of the Russian factory / operation to the country (Specifically to the Moscow city government) sold or, in other words, left. The company also had to cede its stake in local automaker Avtovaz. share in Avtovaz Will have the right to take it back within 6 years The company had more than 45,000 employees in Russia, according to the statement. According to a source who spoke last year, Russia now has new vehicles to be produced from the Renault factory. “Moscow” will be released under the name. In this respect, the company’s tools if enough pieces are found Russia will continue to get on its way. Here “if enough pieces are found” part is important because embargoes against Russia continue. It is known by everyone that the country has great problems especially in electronics and chip / processor supply.