Photo: Ford
The Ford Motor Company and Russia go a long way back. The Dearborn-based automaker first opened an official branch in the Russian Empire in 1907. A few decades later, when Stalin was calling the shots, the KIM Moscow assembly plant started making the AA truck and A passenger car.
Ford eventually became the most popular automotive brand at the beginning of the 2000s, which prompted the Blue Oval to enter a joint venture with Sollers JSC. Formerly known as OAO Severstal-Auto, this company holds a controlling stake in minibus, SUV, and pickup truck manufacturer UAZ.
Founded a little over 11 years ago, Ford Sollers has been axed by the Ford Motor Company after it sold its 49-percent share in the joint venture. “Ford shares will be transferred to the JV for a nominal value. Ford retains the option to repurchase the shares within a 5-year period, should the global situation change,” the American automaker states in the attached release.
FoMoCo suspended all operations in the Russian Federation back in March 2022, mere weeks after the largest country in the world invaded Ukraine over false accusations from the pipsqueak in the Kremlin. The operations in question concern the manufacturing of cars and utility vehicles, the supply of parts for new cars and servicing, engineering support, and IT services.
Russia’s invasion of Ukraine continues to isolate – both politically and economically – the aggressor country from the west. It should be highlighted that Mercedes-Benz is also exiting the Russian market after suspending local production in March 2022. The Stuttgart-based automaker has recently announced that Avtodom, a chain of car dealerships, will buy its shares. Be that as it may, Mercedes-Benz will retain 15 percent of Kamaz.
Turning our attention back to Ford, we should remember that FoMoCo was one of the first automakers to condemn the war. “As part of the global community, Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability. The situation has compelled us to reassess our operations in Russia,” reads a statement from the Blue Oval.
Founded a little over 11 years ago, Ford Sollers has been axed by the Ford Motor Company after it sold its 49-percent share in the joint venture. “Ford shares will be transferred to the JV for a nominal value. Ford retains the option to repurchase the shares within a 5-year period, should the global situation change,” the American automaker states in the attached release.
FoMoCo suspended all operations in the Russian Federation back in March 2022, mere weeks after the largest country in the world invaded Ukraine over false accusations from the pipsqueak in the Kremlin. The operations in question concern the manufacturing of cars and utility vehicles, the supply of parts for new cars and servicing, engineering support, and IT services.
Russia’s invasion of Ukraine continues to isolate – both politically and economically – the aggressor country from the west. It should be highlighted that Mercedes-Benz is also exiting the Russian market after suspending local production in March 2022. The Stuttgart-based automaker has recently announced that Avtodom, a chain of car dealerships, will buy its shares. Be that as it may, Mercedes-Benz will retain 15 percent of Kamaz.
Turning our attention back to Ford, we should remember that FoMoCo was one of the first automakers to condemn the war. “As part of the global community, Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability. The situation has compelled us to reassess our operations in Russia,” reads a statement from the Blue Oval.
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