Ford finalizes exit of Russian Sollers Ford Joint Venture
DEARBORN, Mich. (CBS DETROIT) - Ford Motor Company announced Wednesday it has sold its 49% share of Sollers Ford Joint Venture in Russia.
The automaker had suspended operations in Russia back in March of this year following the country's invasion of Ukraine. Those operations included manufacturing, engineering and IT support, and supplying parts.
In a statement, Ford said the company has the option to buy back its shares within five years, if the situation changes.
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