Volkswagen's Assets Frozen by Russian Court.
TL;DR Summary
A Russian court has frozen all Volkswagen assets in Russia, including its flagship plant in Kaluga, as part of a lawsuit filed by Russian auto manufacturer GAZ, which is seeking $201.3m in damages over a terminated production agreement. Volkswagen has been trying to sell its Russian assets, including the Kaluga plant, which has been furloughed since March 2022. The court's decision further hits VW's attempts to wind down its Russian operations.
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