Renault Motors Corporation recently announced its official withdrawal from the car market in Russia, as a result of the recent war events and the escalating economic crises between Russia and Ukraine, which undoubtedly affected the global economy and the car markets in particular.
Renault Motors announces its final withdrawal from the Russian car market
Like most car manufacturers, the French brand ” Renault ” has officially and permanently announced its withdrawal from the Russian market as a result of the recent events taking place between Russia and Ukraine.
There is no doubt that the Russian-Ukrainian war negatively affected the production of new versions in most brands, which led to the withdrawal of many of them from the Russian car market after the outbreak of the war, and the Renault group of cars is one of the last brands to take this step.
It is noteworthy that this decision by Renault came after the statement of the Ukrainian Foreign Minister, Dmitro Kuleba, in a tweet to him on the social networking site “Twitter”, a global call to incite a boycott of the Renault group for the entire production of cars, because of its refusal to withdraw from Russia, accusing the French company of being This supports the aggressive and brutal war on his country, as he described it.
In the same regard, Ukrainian President Volodymyr Zelensky appealed during his speech to the last French parliament, all French companies that are still in Russia, including Renault , to withdraw from Russia.
Moscow acquires Russian assets in Renault
After the French brand Renault confirmed in late March the suspension of its plant activities in Moscow, it evaluated a number of possible options regarding its stake in the Russian company AvtoVAZ to which it belongs.
This results in its factory in Russia, a number of models such as Nissan Terrano, Arkana, and Captur, but the largest presence of the French group in Russia was the passing of its share to its subsidiary “AvtoVaz”.
In a statement, Renault Motors clarified that it is recently evaluating several possible options regarding its stake in AvtoVaz, which has been owned by Renault since 2016, with an estimated percentage of 69%, and is known as the leader in the Russian car market with the Lada brand. .
In a statement, Renault continued its commitment to act prudently and responsibly towards its approximately 45,000 employees in Russia.
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