The automaker says it is “assessing” elsewhere “the possible options regarding its participation in AvtoVAZ”, which manufactures Lada brand cars.
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Renault’s board of directors decided on Wednesday March 23 to suspend the activities of its factory in Moscow, the group announced in a press release.
The diamond brand also assesses “possible options regarding its participation in AvtoVAZ”the Russian car manufacturer best known in France under its Lada brand.
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Until recently, Russia was Renault’s second largest market behind France. The group says this Wednesday evening “forced to review its financial outlook” down for the year 2022 with an operating margin of around 3%, against 4% previously.
Earlier on Wednesday, Ukrainian President Volodymyr Zelensky had called for a global “boycott” of Renault shortly after having already urged him by videoconference before the French Parliament to stop supporting “the war machine” Russian and to leave Russia, like Auchan and Leroy Merlin.
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