Mercedes quitting Russian market, selling shares to local investor

Mercedes production Russia web.jpg — Production is pictured at Mercedes' plant northwest of Moscow. (MERCEDES-BENZ)

By:

Reuters

October 26, 2022 09:14 AM

BERLIN/MOSCOW -- Mercedes-Benz will withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest automaker to exit the country.

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