By Joshua Kirby and Kim Richters

Germany's Mercedes-Benz Group AG said late Wednesday that it will suspend exports to Russia and cease manufacturing there until further notice, becoming the latest European auto maker to withdraw business from the country after it invaded neighboring Ukraine last week.

"Mercedes-Benz will suspend the export of passenger cars and vans to Russia as well as the local manufacturing in Russia until further notice," the company said.

The car maker said it is working with suppliers in Ukraine, which provide components for the production of its vehicles, and is closely monitoring the situation. While all of its plants are currently operating, the auto maker said it will temporarily adjust some shifts at its plant in Sindelfingen, Germany, next week due to the supply-chain issues.

The move comes after French peer Renault SA temporarily shut a plant near Moscow, citing logistical problems.

Daimler Truck Holding AG, which was spun off from Mercedes-Benz in the past year, said earlier this week that it would cease all business activities in Russia and review a joint venture it operates in the country.

Write to Joshua Kirby at joshua.kirby@wsj.com and Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

March 03, 2022 05:44 ET (10:44 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Renault (EU:RNO)
Historical Stock Chart
Von Mär 2024 bis Apr 2024 Click Here for more Renault Charts.
Renault (EU:RNO)
Historical Stock Chart
Von Apr 2023 bis Apr 2024 Click Here for more Renault Charts.