With the decision, Ford joins a growing group of companies that are leaving Russia or pausing operations, including General Motors. Huge oil producers BP and Shell, along with prominent players in other sectors, such as Apple, made similar moves.
Online used-vehicle retailer Vroom posted revenue gains, but the company’s net loss widened to almost $130 million in the fourth quarter.
The new investment will also go toward expediting R&D of the company’s Gemini battery, a company statement said.
Used-car online auction company ACV Auctions Inc. spent $19 million to buy Monk SAS, an artificial intelligence solutions company that automates vehicle damage detection.
The California-based startup also said it shipped 125 cars to customers last year after targeting 500 deliveries.