AMSTERDAM — Stellantis has established two task forces to deal with the effects of the Russian invasion of Ukraine.
One of the task forces is monitoring sanctions imposed by the U.S. and its Western allies on Russia and how the automaker will comply with them, CEO Carlos Tavares said on Tuesday.
Tavares was speaking with reporters at the company’s global headquarters in Amsterdam where the company is presenting a new strategic plan.
The other task force is keeping watch on the automaker’s 71 staff in Ukraine. The employees were safe as of the last update, Tavares said.
The company’s business in Russia represented about 20 million euros ($22.4 million) in terms of results, Tavares said.
Russia’s invasion of Ukraine has caused automakers to pause production and cut shipments of vehicles.
Hyundai will suspend output at its plant in St Petersburg March 1-5, Interfax news agency reported on Tuesday, citing a Russia-based official for the South Korean company.
Mitsubishi Motors said on Tuesday that it may suspend production and sales of its cars in Russia because economic sanctions could trigger supply chain disruptions.
Volvo Cars said on Monday it would suspend car shipments to Russia until further notice, while Volkswagen in Russia stopped delivering cars to dealers until further notice.
VW previously said it would halt production at two German electric car factories after a delay in getting parts made in Ukraine.
