Ford suspends operations in Russia
Ford is suspending its operations in Russia due to the invasion of Ukraine, the automaker announced Tuesday.
Driving the news: The company said in a statement that it "informed our JV partners" on Tuesday that it was suspending operations, "effective immediately, until further notice."
- The Ford Fund will make a $100,000 donation to the Global Giving Ukraine Relief Fund that assists Ukrainian refugees, per the statement.
What they're saying: Ford noted it has "significantly wound down" its Russian operations, which "now focus exclusively on commercial van manufacturing and Russian sales" via a 50% stake in the Sollers Ford joint venture.
- "While we don't have significant operations in Ukraine, we do have a strong contingent of Ukrainian nationals working for Ford around the world," Ford said.
- Others include Apple and Boeing.