Ford Exits Russia As War Continues

By The Thornical Press Staff

October 27, 2022

Ford Motor Company announced Wednesday that it is leaving Russia, following the likes of auto giants Renault and Mercedes.  Ford representatives announced a deal to sell its 49% stake in the Russian based joint venture, Sollers Ford, for an undisclosed price.  However, Ford will retain an option to repurchase the shares within a five year period.  The sale is no surprise given the ongoing conflict in Ukraine and Ford’s continued retreat from the passenger vehicle market.  In 2019, Ford ceded control of the joint venture to Sollers Ford and shuttered two assembly plants and an engine factory.