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Business & Finance

Daimler Truck freezes cooperation with Russia's Kamaz

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By Reuters
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BERLIN: Daimler Truck will freeze its cooperation with Russian truck maker Kamaz with immediate effect, Germany's Handelsblatt newspaper reported on Monday.

No more trucks will be built under Daimler's joint partnership with Kamaz, and no more components will be supplied to it, reported Handelsblatt, citing the group.

Daimler Truck could not be immediately reached for comment.

Mercedes-Benz Group is also looking into legal options to divest its 15% stake in Kamaz as quickly as possible, the newspaper reported.

A Mercedes spokesperson told Reuters business activities would have to be re-evaluated in light of the current events.

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