The court removed the arrest from Volkswagen plant in Kaluga

The Arbitration Court of Nizhny Novgorod Region partially removed the arrest from Russian real estate and Volkswagen equipment, including the plant in Kaluga. The assets were arrested at the suit of the GAZ Group, which demanded to recover 15.6 billion rubles of losses and cancel the termination of the agreement on contract assembly of Skoda and Volkswagen cars at GAZ. During the consideration of the claim, it became known about the payments that Volkswagen had already made to GAZ after the termination of the contract assembly, the Kommersant newspaper writes. The value of the assets of the Russian subsidiary in Volkswagen is estimated at 47.5 billion rubles, which is considered disproportionate to the sum of claims. Formally, the removal of interim measures opens the possibility for Volkswagen to sell its plant in Kaluga.

Recall that in March 2022, local production and import of Volkswagen and Skoda cars to our country were stopped, and in July 2022, Volkswagen Group Rus closed its office in Nizhny Novgorod and left the production site at GAZ. Recently, Nizhny Novgorod plant has produced Skoda Octavia liftback, Skoda Kodiaq and Karoq crossovers, and Volkswagen Taos. As for the plant in Kaluga, according to unofficial data, negotiations are underway to sell it, and the dealer holding Avilon is called the most likely buyer.