Stellantis (NYSE:STLA) announced today that the company is suspending production at its Russia plant due to logistical difficulties and sanctions imposed on Moscow.
The release on the company’s website reads:
“Given the rapid daily increase in cross sanctions and logistical difficulties, Stellantis has suspended its manufacturing operations in Kaluga to ensure full compliance with all cross sanctions and to protect its employees.”
The release ends by saying:
“Stellantis condemns violence and supports all actions capable of restoring peace.”
Stellantis announced in late March that it would have to close the Kaluga plant shortly as it was running out of parts.
By Michael Elkins