French automaker Renault Group has announced it is suspending operations in Moscow as of March 23 amid Russia’s invasion of Ukraine. The company’s board of directors met earlier on March 23 and approved the decision to pull the plug on activities at its Russian manufacturing plant amid international pressure and the threat of a boycott. “Renault Group activities in its manufacturing plant in Moscow are suspended as of today,” the company said. The Epoch Times has contacted a Renault spokesperson for comment. Renault also has a 69 percent stake in Russian automobile manufacturing company AvtoVaz and said it is “assessing the available options, taking into account the current environment.” The French vehicle maker had recently released its financial report for 2021 in which AvtoVaz’s revenues were shown to have grown by 10.4 percent to 2.9 billion euros ($3.1 billion). The multinational automobile manufacturer said March 23 that it was “acting responsibly towards its 45,000 employees in Russia” …
French Automaker Renault Halts Moscow Operations, Downgrades Financial Outlook
March 24, 2022
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