By Jack Stubbs, Reuters
Daimler began construction of a new Mercedes-Benz plant near Moscow this week, following through on the first new investment by a major foreign automaker in Russia since Western sanctions were imposed three years ago.
Daimler said in February that it will invest more than $280 million in the factory, contrasting with widespread wariness among international investors after a prolonged downturn brought on by sanctions and a collapse in global oil prices.
But Russia’s economy has recently shown signs of recovery, while its car market is returning to growth after four years of decline. [Read more…] about Daimler lays foundation stone for $280 million Mercedes-Benz plant in Russia