Clean Break: the company completely halting Russian engagements or exiting Russia

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Volvo Cars is a Swedish multinational manufacturer of luxury vehicles headquartered in Torslanda, Gothenburg. The company manufactures SUVs, station wagons, and sedans. The company's main marketing arguments are safety and its Swedish heritage and design.

 
 
 
 

Clean Break: the company completely halting Russian engagements or exiting Russia

Leave Withdrawal
Sweden
Automotive

Top 100 largest companies in Russia by revenue

Top 100
Revenue(RF), mln.USD
2542
Staff
3320
Capital, mln.USD
1526
Taxes, mln.USD
182
Glob.Revenue, mln.USD
30200
Assets, mln.USD
1659

Automaker Volvo Group will reduce employees in the Russian Federation during the year. The company produced trucks at the plant in Kaluga, which is currently idle. 30/08/2022: Ferronordic and Volvo CE agree to terminate dealer agreement for Russia

The Company Statement
February 28, 2022

Suspend all shipments to Russia. On December 8, 2022 the agreement on the sale of key assets was closed by the Swedish Volvo Group (it sold "VOLVO FINANCE VOSTOK" LLC, "VOLVO COMPONENTS" LLC and others) but few more has left.

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Statements Archive
July 06, 2022Volvo will reduce the number of employees in Russia during the year
February 28, 2022Automaker Volvo suspended operations in Russia after Daimler
April 25, 2022Volvo and Jaguar Land Rover cut staff following GM
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