Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Volkswagen Group, is a German multinational automotive manufacturer that designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines and turbomachinery.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedGlobal 500, is an annual ranking of the top 500 corporations worldwide
Global 500Top 100 largest companies in Russia by revenue
Top 100The Kaluga factory produced 124,000 vehicles in 2020. The Nizhny Novgorod factory assembled 52,200 vechicles in 2020. No decision on sale of Volkswagen's last Russian factory, says govt. Transactions on the sale of Russian assets of Hyundai and Volkswagen are close to completion and are included in the agenda of the upcoming meetings of the Law Commission on Foreign Investments. Russia’s government has approved the sale of Volkswagen’s factory in the city of Kaluga. Volkswagen receives Kremlin approval to sell Russian assets. 05.2023: "ART-FINANCE" LLC becomes the new founder of the organization. Deleted entries about the founders: "VOLKSWAGEN AKTIENGESELLSCHAFT", "ŠKODA AVTO A.S.", VOLKSWAGEN FINANCE LUXEMBOURG S.A. (VOLKSWAGEN FINANCE LUXEMBOURG S.A.). 26.05.2023: Kühl Jürgen is no longer the head of the organization, Maksimov Dmitry Aleksandrovich is no longer the head of the organization, Maksym Viktorovich Safronov is no longer the head of the organization, Spengler Gerrit Bernhard is no longer the general director of the organization. Kursakov Artyom Igorevich becomes the new general director of the organization. Siemens and Volkswagen seek compensation from German government over withdrawal from Russian market.
Volkswagen AG has decided to stop the production of vehicles in Russia until further notice. Vehicle exports to Russia will also be stopped with immediate effect. Also, the Volkswagen company will announce the liquidation of the production site in Nizhny Novgorod and seeks buyer for its Russian plant in Kaluga. As of February 1, 2023, the group officially announced only its intention to sell the Russian business of the manufacturer of luxury cars Porsche. By the end of 2022, VW's cargo division - a subsidiary of Traton Group - transferred the assets of local "subsidiaries" of truck manufacturers Scania and Man to Russian brand dealers. The fate of the group's subsidiary bank in Russia also remains unknown. In March 2022, Volkswagen Bank, whose assets at the end of 2021 amounted to about 40 billion rubles, stopped issuing loans. Official websites in Russia (https://vwgroup.ru/ and https://www.volkswagen.ru/ru) are active for Russian IP addresses and it says that "Volkswagen brand website is currently unavailable from outside Russian Federation." if to use VPN. Volkswagen has completed the sale of its Kaluga production plant in Russia and its local subsidiaries, the German carmaker said, ending months of wrangling with Russian authorities over the deal. After sale and changes in the official register incorporated in May 2023 (VOLKSWAGEN ACTIENGESELSCHAFT, ŠKODA AUTO A.S. and VOLKSWAGEN FINANCE LUXEMBURG S.A. were deleted as owners) "ART-FINANCE" LLC bacame the new owner and key company was renamed from "VOLKSWAGEN GROUP RUS" LLC to "AGR" LLC, which also took over official Instagram account in Russia and it provides service of Volkswagen cars in Russia. New owner of Volkswagen's former plant in Russia to resume car production in H1 2024. 27.06.2024: EXPOFINANCE LLC becomes the new founder of the organization VOLKSWAGEN GROUP FINANCE. The Arbitration Court of the Nizhny Novgorod Region partially satisfied the claim of the Gorky Automobile Plant (GAZ) against the structures of the German automaker Volkswagen for 16.9 billion rubles. The court determined to partially recover from Volkswagen in favor of GAZ JSC 16.908 billion rubles, €40 thousand debt.