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Ford Media Center
DEARBORN, Mich., Oct. 26, 2022 – Ford Motor Company has finalized the exit of its previously suspended operations in Russia through the sale of its 49 percent share in the Sollers Ford Joint Venture.
The sale follows the full suspension of all operations in Russia, including manufacturing, supply of parts, IT and engineering support, in March this year.
Ford shares will be transferred to the Joint Venture for a nominal value. Ford retains the option to repurchase the shares within a 5-year period, should the global situation change.
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Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, as well as connected services. Additionally, Ford is establishing leadership positions in mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 176,000 people worldwide. More information about the company, its products and Ford Credit is available at corporate.ford.com.