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. Continue reading Daimler lays foundation stone for $280 million Mercedes-Benz plant in Russia