ukrainian war
The automobile industry is no stranger to the events that are taking place in Eastern Europe. Russia bans car exports, while Stellantis and Hyundai suspend operations there.
The war between Russia and Ukraine has led many companies to decide to stop operating in Russia. Recently, Ferrari and Lamborghini announced the cessation of their operations in that country and now it is the Stellantis Group and Hyundai who adopt the same decision.
For its part, Russia is retaliating against Western sanctions by enacting an export ban that includes more than 200 items and will last until the end of the year.
At the moment, there is no detailed list of products, but, according to the Russian agency TASS, it includes everything from technical equipment to locomotives and railway cars, as well as medical items and vehicles.
Russia bans car exports as Stellantis and Hyundai suspend operations
BBC News reported that the export ban targets some 48 countries that the Russian government says have “committed hostile actions” against them. The government added that the ban is “aimed at ensuring the uninterrupted functioning of key sectors of the economy.”
This movement seems to begin to cause effects. As reported by the CarsCoops media, Stellantis has decided to stop importing and exporting vehicles from Russia.
The Michelin Guide ‘delete’ all references to Russia
The company has a plant in the city of Kaluga, from where it started exporting Citroën Jumpy, Peugeot Expert and Opel Vivaro commercial vehicles to Western European countries earlier this year.
Stellantis wanted to turn that plant into an export center to supply engines and vehicles to Europe, Latin America and North Africa, therefore, this decision is a serious blow to the automobile giant.
Hyundai follows the same steps as Stellantis
The Hyundai-Kia Group also has facilities in Russia and they have decided to suspend their operations in that country: “We can confirm that the operations of Hyundai Motor Manufacturing Russia (HMMR) are suspended until further notice due to ongoing global logistical issues with the delivery of components,” the Korean manufacturer told CarScoops.
In the coming days or weeks we will know more details about the impact that this situation is having and will have on the automotive industry in general.
For its part, according to CarScoops, Russia is threatening to nationalize the assets of companies that have withdrawn from the country and has warned that it will be difficult to return.
