March 27, 2019 / 11:33 AM / 3 months ago

Ford to exit Russian passenger car market, cede control in JV

MOSCOW, March 27 (Reuters) - Ford Motor Co’s Russian joint venture Ford Sollers will close two assembly plants and an engine factory in Russia, exiting the country’s passenger vehicle market, it said on Wednesday.

The move is part of a restructuring that will see Sollers assume control of the venture, which is currently led by the U.S. automaker, the company said in a statement.

A restructured Ford Sollers will focus on commercial vehicles, while passenger vehicle production will cease by the end of June 2019. (Reporting by Gleb Stolyarov; Writing by Maria Kiselyova; Editing by Jan Harvey)

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