Vehicles also for the Kremlin army
Mercedes withdraws from Russian truck manufacturer Kamaz
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Since the beginning of the war in Ukraine, Mercedes-Benz has no longer been involved in the operational business of the Russian truck manufacturer Kamaz. However, the German group initially continues to hold shares in the car manufacturer, which also produces vehicles for the Kremlin army. Now the Swabian company is pulling out completely.
The car manufacturer Mercedes-Benz has sold its shares in the Russian commercial vehicle manufacturer Kamaz. The necessary permits have been granted and the contractual agreements have been implemented, a spokeswoman said. The transaction was completed in February. Mercedes-Benz Group AG has no other holdings in Russia. The spokeswoman did not want to comment on details such as the price or the parties involved. Mercedes held a 15 percent stake in the Russian truck manufacturer.
Kamaz General Director Sergei Kogogin had previously confirmed the sale in the daily newspaper “Vedomosti”. “I am not aware of your further plans regarding our company,” said Kogogin. The Russian manager also did not want to name the buyer or the purchase price. He recalled that the group has not participated in the company's operational business since the beginning of Russia's war of aggression against Ukraine.
After the separation of Mercedes-Benz and Daimler Truck in December 2021, Mercedes' shares were to be transferred to the truck manufacturer from Leinfelden-Echterdingen. However, the Russian war and the sanctions imposed afterwards forestalled the plan. The group ceased its business activities in Russia and the stake remained with Mercedes for legal reasons. The company is the legal successor to Daimler AG.
Daimler joined Kamaz in 2008. The company initially bought a ten percent stake for 250 million dollars. Two years later, Daimler and the European Bank for Reconstruction and Development bought a further five percent, which Daimler later took over alone. At the same time, the Swabian company provided know-how for the further development of the trucks that roll off the production line in the Russian republic of Tatarstan. The driver's cabin in particular was modernized using Mercedes technology.
In addition to civilian trucks, Kamaz also produces army trucks and armored vehicles and has always been considered a strategically important asset for the Russian leadership. The Russian state-owned arms holding Rostec is the most important shareholder. Kamaz vehicles play an important role in the war against Ukraine. The EU has imposed sanctions on the company.
