Renault : Exit from Russia unfortunately not without consequences for the OEM
>The board of directors confirms the withdrawal from Russia - Following the board meeting yesterday, Renault announced in the evening that its activities in Russia were suspended as of today and that it was weighing the possible options concerning its stake in AvtoVaz. In concrete terms, this means that the OEM is completely withdrawing from Russia, a decision that has consequences as this was its second-largest global market (482k units, 18% of global volumes last ye...Renault is an automobile manufacturer. Co.'s activities have been organized into two main business sectors, in more than 120 countries: Automotive and Sales Financing. Co. designs, develops and sells passenger cars and light commercial vehicles. Following the acquisition of Romanian carmaker Dacia and Samsung Motors' operating assets in South Korea, Co. has three automotive brands: Renault, Dacia and Samsung. RCI Banque, Co.'s captive financing arm, finances sales of the Renault, Renault Samsung Motors (RSM) and Dacia brands, and, in Europe, the Nissan and Infiniti brands. In addition to these two activities, Co. has equity investments in the following two companies: Nissan and AVTOVAZ.
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