German automaker Daimler officially opened a Mercedes-Benz factory near Moscow on Wednesday at a ceremony attended by President Vladimir Putin, marking a rare foreign investment into Russia’s car industry.
The plant in the town of Esipovo 40 kilometers north west of Moscow is the first in years to be opened by a foreign carmaker in Russia where investment into the once burgeoning auto industry dried up amid western sanctions and a stagnant economy.
The plant in the town of Esipovo 40 kilometers north west of Moscow is the first in years to be opened by a foreign carmaker in Russia where investment into the once burgeoning auto industry dried up amid western sanctions and a stagnant economy.
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