Chinese car manufacturers are filling the void global automakers left by pulling out of Russia. So far, they’ve managed to avoid the backlash aimed at Western companies that tried to stay.
Carmakers including Geely Automobile Holdings, minivan-maker Chery Automobile and Great Wall Motor, known for its affordable Haval brand, grabbed 17% of Russia’s auto market in 2022 after most of the world’s biggest automakers, including Volkswagen and Toyota, exited the country following its invasion of Ukraine just over a year ago.
While Western companies from Apple to Sony, BP and McDonald’s withdrew from Russia in the early days of the war following swift economic sanctions and consumer pressure, many Chinese firms have continued to operate there with impunity. Chinese President Xi Jinping has stood by Russian President Vladimir Putin, and Chinese companies face little danger of a consumer backlash back home.