Geely is examining its future in Russia, casting doubt on expectations that China’s carmakers would push further into the country to take advantage of the exodus of international groups following Ukraine’s invasion.
Geely has suspended its operations at a factory in Belarus that exports to Russia, and has launched a review weighing the reputational risk to the brand of sticking with the country against the opportunity created by the halting of sales of major rivals from Volkswagen to Toyota.
The Beijing-based group, which owns Volvo and Lotus and has a minority stake in Mercedes-Benz, will consider potential supply chain problems and local market conditions, the company told the Financial Times.
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