Officials with General Motors say the company will cease production at a factory in Russia by this summer as the automaker winds down its investment in that nation.
Only a few years ago automakers said they thought Russia would become one of the fastest-growing car markets in the world.
But Russia’s ongoing conflict with Ukraine, among other factors, have GM officials reconsidering a market the automaker now says faces very challenging long-term prospects.
So by the end of this year GM plans to halt production at its plant in St. Petersburg, Russia and stop producing Chevrolet cars as part of a joint venture.
GM’s Opel brand, based in Germany, will also stop selling cars in Russia.
But the Detroit automaker will still have a presence in Russia.
GM will continue a joint venture with Autovaz in Russia and Cadillac is slated to debut several new models there in the coming years.