Rechtbrank freezes things up
The Russian carmaker GAZ has sued Volkswagen. GAZ accuses Volkswagen of breach of contract. The Russian court has frozen all of Volkswagen’s assets in Russia.
Volkswagen Group Rus – the Russian branch of the Volkswagen Group – and the Russian GAZ Group signed an agreement in 2011 that would allow the production of Volkswagen and Skoda models in Russia. In 2012, the first cars left the GAZ plant in Nizhny Novgorod and in 2017 the cooperation was extended until 2025. The Russian invasion of Ukraine prompted Volkswagen to stop production in Nizhny Novgorod in March 2022. In August, Volkswagen terminated the agreement with GAZ Group, causing great dissatisfaction from the Russian company.
Reuters reports that GAZ Group has sued Volkswagen for breach of contract. GAZ Group claims to be missing out on more than €194 million because Volkswagen has terminated the collaboration. The Nizhny Novgorod court has frozen all of Volkswagen’s assets in Russia, according to Reuters. Until last year, the Volkswagen Group built the Skoda Karoq, Octavia, Kodiaq and the here unknown Volkswagen Taos in Russia.
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– Thanks for information from Autoweek.nl