PARIS – Stellantis will some of move its van production in Russia to Western Europe and freeze plans for more investments in the country as a consequence of the invasion of Ukraine, CEO Carlos Tavares said.
"New investments in Russia are not on the table," Tavares told reporters on Friday.
The automaker on Thursday suspended all exports and imports of vehicles with Russia, where it operates a vehicle plant in Kaluga plant in partnership with Mitsubishi.
The decision reverses a previous plan, announced in January, to use Russia as an export hub to meet strong van demand in Western Europe. Stellantis said then that it would export Peugeot, Opel and Citroen vans from Kaluga after van sales soared as home delivery services boomed during the coronavirus pandemic.