Mitsubishi halts production at Russian plant it co-runs with Stellantis
Reuters
Published Apr 08, 2022 01:12PM ET
(Reuters) -Japanese automaker Mitsubishi Motors (OTC:MMTOF) said on Friday it had stopped production at a Russian van plant in Kaluga that it owns with Stellantis until further notice, joining other major carmakers that have halted operations in Russia.
"Due to the logistical difficulties, vehicle exports and parts supply to Russia have been suspended since March," Mitsubishi said in a statement.
Japan has joined the United States and other allies in slapping additional sanctions on Russia, including freezing assets of the country's leaders and three financial institutions, to punish Russia for what Moscow calls "a special military operation" in Ukraine that started on Feb. 24.
Stellantis, the world's fourth largest automaker, said in late March it would have to close the Kaluga plant shortly as it was running out of parts.
It was not immediately clear whether Stellantis had halted its operations too in Kaluga.
The company, which had earlier suspended all exports of cars to Russia as well as all imports from Russia, was not immediately available for comment on Friday.
Stellantis has also said it was moving its current production to western Europe and freezing plans for more investments in Russia, while keeping van production in Kaluga just for the local market.
New car sales in Russia fell 62.9% year-on-year in March, contracting for a ninth straight month, as the industry encountered an acute shortage and soaring prices caused by a sharp rouble drop and disrupted logistics.
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Written By: Reuters
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