Renault suspends its industrial activities in Russia

Under pressure since the start of the conflict in Ukraine, the French manufacturer Renault decided on Wednesday to suspend its industrial activities in Russia. Paris, the company has decided to suspend its industrial activities in Russia from this day. . This factory has already been operating intermittently in recent days due to logistical problems. Regarding its subsidiary Avtovaz, the manufacturer of Lada, the group indicates that it is evaluating “the possible options concerning its participation in Avtovaz, while acting responsibly towards its 45,000 employees. in Russia”. Renault in a delicate situation As a result, Renault is revising its financial outlook downwards for the year 2022. The group is aiming for an operating margin of around 3%, against 4% previously. Russia is a very important country for the group since it represents its second world market. The manufacturer has three assembly plants there and employs 40,000 people. The group has been under pressure since the start of the war in Ukraine. The automaker was cited on Wednesday by Ukrainian President Volodymyr Zelenski among the French companies called upon to leave Russia and to cease being “war sponsors”. A few hours later, Dmytro Kuleba, the head of Ukrainian diplomacy, called for a “global boycott” of the company.