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Automaker Jaguar Land Rover is selling Russian assets

Photo: Ukrinform (pictured)

VSKD Motors LLC, registered in Moscow by the end of 2022, became the owner of 100% of the shares of the representative office.

The Russian representative office of the British automaker Jaguar Land Rover acquired by a group of local top managers of the Russian Federation. This is confirmed by data from the Unified State Register of Legal Entities of the Russian Federation, DW reports.

It was noted that the LLC became the owner of 100% of the shares of the representative office VSKD Motors, registered in Moscow by the end of 2022.

Jaguar Land Rover was founded in Moscow in 2008. At the beginning of 2022, against the backdrop of the Russian war in Ukraine, Jaguar Land Rover stopped deliveries to Russia, the company’s revenue fell from 7.5 billion to 1.5 billion rubles in 2023.

Net loss in 2022 Jaguar Land Rover exceeded 1 billion rubles, in 2023 – reached 560 million rubles.

Let us remind you that the French company Auchan decided to sell its branch in Russia due to its inability to continue operating under EU sanctions.

It was also reported that the British company Unilever completely left the Russian market.

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Source: korrespondent

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