Mercedes-Benz Group has said it has sold its stake in Kamaz, a Russian truckmaker.
Details of the transaction or the buyer were not disclosed, Reuters reports.
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Kamaz is headquartered in Naberezhnye Chelny, and is the largest producer of trucks in the country, making over 43,000 vehicles a year with 36,000 employees.
In April 2023, the group’s brand Mercedes completed its withdrawal from Russia, in the wake of Russia’s military campaign in Ukraine. The brand sold off its Russian assets to local concerns.
Russia has faced a slew of economic sanctions since its invasion of Ukraine, with a number of Western firms and automakers pulling out of the country.
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