German Daimler sold a stake in KamAZ – Kommersant
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The German automobile manufacturer Daimler Truck (part of the Mercedes-Benz Group) sold a 15% stake in the Russian truck manufacturer KamAZ in 2024. About it “Vedomosti” said KamAZ General Director Sergei Kogogin. He did not disclose the buyer or the transaction amount.
Since February 2022, noted Sergei Kogogin, the German concern has not participated in the work of the manufacturer. “Their future plans for our company are unknown. What is much more important for us is that the termination of relations with European partners, which certainly changed our product, did not affect our ability to produce commercial equipment and develop our model range,” said Mr. Kogogin.
Daimler Truck has suspended operations since February 27, 2022 amid the entry of Russian troops into Ukraine. At that time, Daimler in Russia had a joint venture with KamAZ, Daimler Kamaz Rus, and 15% in the Russian concern. The main shareholders of Kamaz remain the Rostec Group of Companies (47.1%) and the Avtoinvest company (23.5%).
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