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Russia approves sale of Volkswagen plant to domestic dealership

Published 15/05/2023, 18:30
© Reuters. FILE PHOTO: Cars are seen parked at the plant of Volkswagen Group Rus in Kaluga, Russia March 30, 2022. REUTERS/Evgenia Novozhenina/File Photo
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(Reuters) - A Russian government commission has approved the sale of Volkswagen (ETR:VOWG_p)'s main factory in Russia to a domestic car dealership, Trade and Industry Minister Denis Manturov told the TASS news agency on Monday.

The VW plant, in the Kaluga region south of Moscow, will be sold to the Avilon dealership, previously the official dealer for Volkswagen cars in Russia. The paperwork for the deal is currently being completed, TASS cited Manturov as saying in an interview.

© Reuters. FILE PHOTO: Cars are seen parked at the plant of Volkswagen Group Rus in Kaluga, Russia March 30, 2022. REUTERS/Evgenia Novozhenina/File Photo

Volkswagen suspended production of cars in Russia shortly after Russia invaded Ukraine last February.

The TASS report did not specify the terms of the sale.

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