The German automaker Volkswagen (VW) is looking for an investor who will be ready to buy out its plant in Kaluga. Writes about it Frankfurter Allgemeine Zeitung (FAZ) with reference to sources. “With each stage of the escalation, the likelihood that we will be able to produce there again in the foreseeable future is decreasing,” the newspaper quoted one of the sources as saying. “We have an unequivocal desire to completely withdraw from the country,” another source close to the VW supervisory board quoted FAZ as saying. According to the newspaper, the company’s management came to the conclusion that this is the only way out in this situation.
Volkswagen responded to media inquiries that they were considering various options for the future of their Russian business, including selling to third parties, but a decision has not yet been made. VW, like many other foreign automakers, stopped production in Russia in the spring. Last week Nissan announced about plans to sell plants in Russia, a little earlier Toyota announced the cessation of production in the country.