By Joshua Kirby 
 

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 move comes after French peer Renault SA shut a plant near Moscow as a result of logistical issues stemming from fresh Western sanctions against Russia.

Daimler Truck Holding AG, which was spun off from Mercedes-Benz earlier this 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; @joshualeokirby

 

(END) Dow Jones Newswires

March 03, 2022 01:40 ET (06:40 GMT)

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