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Volkswagen: Difference between revisions
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May 15, 2023. A Russian government commission has approved the sale of Volkswagen's assets to Avilon dealership. The value of the sale will not exceed 125 milllion euros. Volkswagen's assets in Russia were valued at 1.5 billion euros in 2022<ref>https://www.ft.com/content/1e9df0be-0785-4869-95fd-c89bd93e25d2</ref>. | |||
March 20, 2023. Russian court freezes all Volkswagen's assets in Russia. This is a result of a legal suit by Russian auto manufacturer GAZ, which had been contracted to produce Volkswagen's vehicles. GAZ estimates losses as a result of the breach of contract to be around $207.79 million<ref>https://uk.investing.com/news/stock-market-news/russian-court-freezes-all-volkswagen-assets-in-russia-2955911</ref>. The decision will prevent Volkswagen from selling its Kaluga plant estimated to be worth over $1.1 billion in investment<ref>https://www.autonews.com/automakers-suppliers/vw-nears-sale-kaluga-russia-plant-local-dealer-group#:~:text=The%20factory%2C%20in%20which%20automaker,of%20225%2C000%20vehicles%20a%20year.&text=Russia%27s%20Avilon%20dealership%20group%20is,Wednesday%2C%20citing%20two%20unidentified%20sources.</ref>. | March 20, 2023. Russian court freezes all Volkswagen's assets in Russia. This is a result of a legal suit by Russian auto manufacturer GAZ, which had been contracted to produce Volkswagen's vehicles. GAZ estimates losses as a result of the breach of contract to be around $207.79 million<ref>https://uk.investing.com/news/stock-market-news/russian-court-freezes-all-volkswagen-assets-in-russia-2955911</ref>. The decision will prevent Volkswagen from selling its Kaluga plant estimated to be worth over $1.1 billion in investment<ref>https://www.autonews.com/automakers-suppliers/vw-nears-sale-kaluga-russia-plant-local-dealer-group#:~:text=The%20factory%2C%20in%20which%20automaker,of%20225%2C000%20vehicles%20a%20year.&text=Russia%27s%20Avilon%20dealership%20group%20is,Wednesday%2C%20citing%20two%20unidentified%20sources.</ref>. | ||