Ford suspends operations in Russia until further notice

Ford suspends operations in Russia until further notice



https://dynaimage.cdn.cnn.com/cnn/di...e8d39776ad.jpgA worker installs components on a Ford Transit van at the Ford Sollers production plant in Elabuga, Russia, in 2020. (Andrey Rudakov/Bloomberg/Getty Images)

Ford is suspending their operations in Russia, effective immediately, the company announced Tuesday. The motor company has a 50% stake in Ford Sollers, a joint venture between the American automaker and Russian company Sollers.

“Given the situation, we have today informed our JV partners that we are suspending our operations in Russia, effective immediately, until further notice,” the company said in their statement.

The announcement comes after Ford said earlier today they were “deeply concerned about the situation in Ukraine” but did not go so far as to stop operations in the three Russian cities where the company has plants: St. Petersburg, Elabuga and Naberezhnye Chelny.

“As part of the global community, Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability. The situation has compelled us to reassess our operations in Russia,” the statement said.

The company notes they have “significantly wound down” their Russian operations in recent years — but the joint venture employs at least 4,000 people. And the three plants together produce the Ford Focus, Ford EcoSport, and Ford Transit, Kuga, Explorer, S-MAX and Galaxy, according to Ford's website.

Ford says they are making a $100,000 donation to the Global Giving Ukraine Relief Fund, for Ukrainians and their families who have been displaced during the invasion.

Ford will take "long view" on Russia and is in no rush to reopen business once Ukraine conflict ends



American motor company Ford will be in no rush to reopen its Russian businesses, regardless of what happens with the conflict in Ukraine, according to Bill Ford, the company's executive chair.
Speaking to CNN's Richard Quest, the boss of the carmaker said that it would take the “long view” on Russia.

“There will be a new Russia one day. But it will take a little time to sort out what that means and we'll take our time with that. It's important that that we do get the human rights equation correct. And that, that we feel that the country is headed in the right path," Bill Ford explained.

Ford suspended its Russian operations indefinitely on March 1. The motor company has a 50% stake in Ford Sollers, a joint venture between the American automaker and Russian company Sollers.
Ford Sollers operated three plants in Russia and employed around 4,000 people. Bill Ford said the move was the “right thing to do” even though it affected employees who weren’t part of Russian politics.