Russian authorities will decide how to use Renault’s plant in Moscow by the end of next week, the Ministry of Industry and Trade said on Thursday, after the carmaker announced it was suspending operations there. Renault, the biggest player in the Russian auto market, said on Wednesday it stopped production at the plant and would assess its options on its majority stake in Avtovaz, Russia’s No. 1 carmaker following Russia’s invasion of Ukraine. The government’s comments about the future of the factory come after the Kremlin suggested it could nationalise assets of foreign firms that left the country. “The Ministry of Industry and Trade will discuss the prospects of developing the Renault Russia factory with the Moscow government. The joint solutions will be announced by the end of next week,” the ministry said. The factory in Moscow owned by Renault produces the Renault Duster, Kaptur, Arkana, and Nissan Terrano models. …
Russia Says It Will Decide on Future Use of Moscow’s Renault Plant Next Week
March 25, 2022
admin
Business & EconomyCompanieseconomic policieseconomyEuropeInternationalMarketsMoscowplantRenaultRussiaRussia-Ukraine WarWorld
0 Comment