Monday, July 28, 2025
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
Happy With Car
No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS
Happy With Car
No Result
View All Result
Mercedes says Russian nationalization threatens .2 billion in assets

Mercedes says Russian nationalization threatens $2.2 billion in assets

by admin
March 27, 2022
in Market
0 0
0
Share on FacebookShare on Twitter


LONDON – Mercedes-Benz has 2 billion euros ($2.2 billion) in belongings that might be threatened by Russian proposals to nationalize the property of international corporations that go away due to its invasion of Ukraine, the German premium carmaker stated.

The corporate stated in its annual report launched on Friday that the conflict in Ukraine raised a variety of dangers from disruptions to components to vitality provide and even cyber assaults.

“These dangers might be exacerbated by the potential expropriation of belongings of Russian subsidiaries,” Mercedes-Benz stated.

Russia’s ruling celebration, United Russia, stated this week a authorities fee had authorized step one in the direction of nationalizing the belongings of corporations greater than 25% owned by foreigners from “unfriendly states.”

Mercedes-Benz has a automobile plant within the city of Esipovo 40 km (25 miles) northwest of Moscow with over 1,000 workers that produces E-class sedans and SUVs.

It was opened in April 2019 with Russian President Vladimir Putin in attendance. It was the primary plant in years to be opened by a international carmaker in Russia, the place funding into the previously burgeoning auto business had dried up amid western sanctions and a stagnant financial system.

Talking on the opening ceremony, Putin stated the plant would produce 25,000 vehicles a yr and that funding within the venture had totaled just below $300 million.

Mercedes-Benz stated its Russian models, which had been valued at 2 billion euros as of the tip of 2021, have liabilities to banks of roughly 1 billion euros, for which the carmaker has issued a world assure.

($1 = 0.9086 euros)

(Reporting by Nick Carey, Enhancing by Louise Heavens)



Source link

Tags: assetsbillionMercedesnationalizationRussianthreatens

Related Posts

Tariffs Have Cost VW Group .5 Billion: ‘Negative Impact’
Market

Tariffs Have Cost VW Group $1.5 Billion: ‘Negative Impact’

July 26, 2025
Trump Just Struck a ‘Massive’ Trade Deal With Japan. Here’s Why Detroit Is Furious
Market

Trump Just Struck a ‘Massive’ Trade Deal With Japan. Here’s Why Detroit Is Furious

July 24, 2025
GM Took a .1 Billion Hit in Profits Thanks to Tariffs
Market

GM Took a $1.1 Billion Hit in Profits Thanks to Tariffs

July 22, 2025
Tariffs Are Already Killing New Cars Under ,000: Study
Market

Tariffs Are Already Killing New Cars Under $30,000: Study

July 19, 2025
Mercedes EQ Models Just Got Way Cheaper
Market

Mercedes EQ Models Just Got Way Cheaper

July 18, 2025
2026 Hyundai Palisade Price
Market

2026 Hyundai Palisade Price

July 15, 2025
Load More
Next Post
BMW acquires Alpina | GoAuto

BMW acquires Alpina | GoAuto

Oil prices continue downward trend from last week

Oil prices continue downward trend from last week

Categories

  • Auto News (3,426)
  • Automative Reviews (1,942)
  • Car Brands (2,068)
  • Insurance (3,451)
  • Market (1,610)
  • New Cars (2,170)
  • Technology (2,045)
  • Videos (2,145)
Happy With Car

Find the latest automotive news. Read car news from the auto industry including auto shows, latest vehicles, future cars and more.

Categories

  • Auto News
  • Automative Reviews
  • Car Brands
  • Insurance
  • Market
  • New Cars
  • Technology
  • Videos

Recent News

  • ‘Mixed bag’ for legal reforms as La. legislative session ends | Louisiana Record
  • Mercedes-AMG A-Class Edition Rs revealed
  • Most Legendary SUV ever!
  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2020 Happy With Car

No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS

Copyright © 2020 Happy With Car

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In