The Swedish truck manufacturer Volvo stopped production and sales of its products on the territory of Russia back in February 2022.
According to local sources, Volvo Group enterprises in Kaluga may finally cease to exist by the end of the current year, and the staff will be officially dismissed.
The Volvo Trucks production site in Kaluga has been operating since 2009. Its estimated capacity reached 15 thousand vehicles per year, including 5 thousand units of Renault Trucks models. Last year, the Russian market accounted for 3% of Volvo Group's total sales. Currently, the plant employs more than 1,270 workers.
In addition, the Swedish corporation is considering the possibility of selling its Russian assets. This concerns facilities for welding and painting cabins, assembly lines for trucks, and four service centers. Following Volvo, Daimler Trucks, MAN, Scania, and Iveco also announced their exit from the Russian market.
