Iveco Group leaves Russia completely

Iveco Group leaves Russia completely


 

RusAutoNews.- Iveco Group has decided to completely cut its business in Russia and pull out of the Iveco-AMT joint venture based in the city of Miass, as reported by RBK. The Italian truck maker held a 33% stake in the company.

According to the Group CEO, Gerrit Marks, the decision was made after several months of consultation. “The decision was made, we transferred our share to our local partner, we got out,” said Marks.

The joint venture was established in 1994, and that year the company planned to produce 600-700 trucks intended for sale in Russia.