French carmaker has suspended its Russian operations in wake of Ukraine invasion
top executive says the carmaker will decide in the coming weeks on the future of its operations in Russia, where it suspended operations in late March following the invasion of Ukraine.
“Negotiations are still ongoing,” CEO Luca de Meo said at the FT Future of the Car 2022 conference, adding that leaving Russia entirely involves writing down the value of its assets. “But we also know that we’ve been working for 10 years investing a lot of money there so we are also here to protect our assets and what we’ve done.”n late April, Russia said Renault would transfer its 68% stake in Russia’s biggest carmaker Avtovaz to an auto research institute for one symbolic rouble.
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