Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home News

Mercedes-Benz is the most recent Western corporation to leave Russia

Marian RomainebyMarian Romaine
October 26, 2022
in News
0
Mercedes-Benz is the most recent Western corporation to leave Russia
Share on FacebookShare on TwitterShare on Whatsapp

Mercedes is the most recent foreign corporation to leave Russia in the wake of the February invasion of Ukraine.

Early in March, the German company halted producing in and importing from the nation.

However, it has now announced that it will leave the Russian market and sell stock in its subsidiaries to a regional investor.

Nissan, a Japanese company, left Russia earlier this month after Toyota and Renault did the same.

Nissan handed over its business to a state-owned organization for a small amount, reportedly less than £1, at a loss of $700 million (£600 million).

Mercedes’ departure from Russia, according to Chief Financial Officer Harald Wilhelm, is not anticipated to have a materially negative impact on the company’s earnings.

The choice was made after major Western businesses, including Starbucks, McDonald’s, and Coca-Cola, left Russia earlier this year.

In the early stages of the war, deliveries from other automakers, such as Jaguar Land Rover, General Motors, Aston Martin, and Rolls-Royce, were all stopped.

Mercedes was in line with other businesses when it stopped exports and suspended operations in Russia earlier this year, but many other automakers subsequently swiftly withdrew from the nation entirely, according to James Baggott, editor-in-chief of the industry website Car Dealer Magazine.

The major goals of the transfer, according to Natalia Koroleva, chief executive of Mercedes-Benz in Russia, were to fulfill promises to Russian clients and maintain jobs in Russia.

9,558 Mercedes vehicles were sold in Russia from January to September, according to the Association of European Businesses (AEB), a decrease of 72.8% from the same period last year.

Tags: leaveMercedes-Benzmost recentRussiaWestern corporation
Marian Romaine

Marian Romaine

Marian Romaine is a seasoned content writer with a passion for translating complex technological concepts into accessible and engaging content.She is dedicated to creating engaging and informative content aiming to enhance both reader engagement and search engine visibility. Her writing combines a deep understanding of the subject matter with a talent for crafting clear, concise, and informative pieces.With 3 years of industry experience, her expertise includes crafting blog posts, articles, social media content, and website copy.

Related Posts

Who Are Morocco's 'GenZ 212' Protesters and What Do They Want?
News

Who Are Morocco’s ‘GenZ 212’ Protesters and What Do They Want?

October 4, 2025
Are ICE Tracking Apps a Security Risk? Behind Apple's Controversial Removal
News

Are ICE Tracking Apps a Security Risk? Behind Apple’s Controversial Removal

October 3, 2025
How Did the Manchester Synagogue Attack Unfold? A Minute-by-Minute Timeline
News

How Did the Manchester Synagogue Attack Unfold? A Minute-by-Minute Timeline

October 2, 2025
Next Post
Kanu seeks N100bn damages from FG for violating the court order

Kanu seeks N100bn damages from FG for violating the court order

The flamingos Lose To Colombia 6-5 on Penalties.

The flamingos Lose To Colombia 6-5 on Penalties.

I Haven’t Heard Anything From Nigeria- Arsenal Loanee Folarin Balogun on his Super Eagles Future

I Haven't Heard Anything From Nigeria- Arsenal Loanee Folarin Balogun on his Super Eagles Future

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

INEC Official Gets Abducted in Bayelsa

INEC Official Gets Abducted in Bayelsa

2 years ago
Why Vitamin C Drips Are the Next Big Thing in Health and Wellness

Why Vitamin C Drips Are the Next Big Thing in Health and Wellness

1 year ago
UK’s Sunak Offers Apology to LGBT Military Veterans for Pre-2000 Ban

UK’s Sunak Offers Apology to LGBT Military Veterans for Pre-2000 Ban

2 years ago
Lagos State Extends Flexible Work Initiative Amid Fuel Subsidy Removal Hardship

Lagos State Extends Flexible Work Initiative Amid Fuel Subsidy Removal Hardship

1 year ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

Seyi Shay Reveals Truth Behind Fallout With Tiwa Savage

Rice Haunts Former Club as Arsenal Overcome West Ham to Go Top

Mount Shines as Manchester United beat Sunderland to Record Third Consecutive Victory at Home

Nigeria’s Grammy Contenders for 2026 Are In – Who Will Take the Spotlight?

A New ‘Iron Lady’ for Japan? What to Know About Sanae Takaichi

Who Are Morocco’s ‘GenZ 212’ Protesters and What Do They Want?

Trending

Estêvão Strikes Late as Chelsea Stun Liverpool at Stamford Bridge
Sports

Estêvão Strikes Late as Chelsea Stun Liverpool at Stamford Bridge

byHashim Kolawole
October 4, 2025
0

The Reds were off to a pretty poor start at Stamford Bridge, and it didn't take long...

Democrats Dump AIPAC: The Lobby No One Wants Anymore

Democrats Dump AIPAC: The Lobby No One Wants Anymore

October 4, 2025
Who’s Paying For Brandon Scott’s New Car?

Who’s Paying For Brandon Scott’s New Car?

October 4, 2025
Seyi Shay Reveals Truth Behind Fallout With Tiwa Savage

Seyi Shay Reveals Truth Behind Fallout With Tiwa Savage

October 4, 2025
Rice Haunts Former Club as Arsenal Overcome West Ham to Go Top

Rice Haunts Former Club as Arsenal Overcome West Ham to Go Top

October 4, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Estêvão Strikes Late as Chelsea Stun Liverpool at Stamford Bridge
  • Democrats Dump AIPAC: The Lobby No One Wants Anymore
  • Who’s Paying For Brandon Scott’s New Car?

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com