The general director of KamAZ did not name the buyer or the amount of the transaction, but noted that Daimler Truck has not participated in the life of the Russian automaker since February 2022.
German automaker Daimler Truck has sold its 15% stake in the largest Russian truck manufacturer KamAZ – the Russian automotive industry has lost its last major foreign partner. The general director of the Russian business, Sergei Kogogin, announced this on Thursday, February 15, The Moscow Times wrote.
The CEO did not name the buyer or the amount of the transaction, but noted that Daimler Truck has not participated in the life of the Russian automaker since February 2022.
Daimler Truck became a shareholder of KamAZ in 2008 – then it acquired 10% of the truck manufacturer for $250 million. In 2010, Daimler and the European Bank for Reconstruction and Development bought another 5% of KamAZ. Later, the German concern bought 1% owned by the EBRD.
It was mentioned earlier that, due to the large-scale invasion of the Russian Federation in Ukraine, all Western and global automakers left the Russian market: the last large plant was sold by the Korean company Hyundai in January 2024.
Earlier it was reported that giant Russian companies left Cyprus en masse.
Source: korrespondent
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