Automaker Renault announces suspension of operations at its Moscow plant

The French car manufacturer Renault announced on Wednesday March 23 to suspend production at its Moscow plant with immediate effect.

(Illustrative image) AP - Christophe Ena

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Renault announced Wednesday evening to suspend production at its Moscow plant with immediate effect.

The French automaker has been the subject of growing criticism over the recent resumption of business on Russian soil, and the pressure escalated on Wednesday, when Ukrainian President Volodymyr Zelensky asked French companies to leave Russia citing Auchan, Leroy Merlin and Renault.

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The

has asked these French companies to stop being “ 

 ”.

In the evening, the head of Ukrainian diplomacy called on him for a 

 global "

Since the resumption of production at its Moscow factory a few days ago, the diamond group has been carefully monitoring the reactions.

Renault also wishes to assess “ 

 ” in AvtoVAZ, the first Russian car manufacturer and its Lada brand, of which Renault is a 67% shareholder.

In its press release, the group assures that it wants to act “ 

 ”.

Other French groups maintain their activity in Russia

The French manufacturer has also announced that it is revising its financial objectives for 2022 downwards, with the group's operating margin now expected to be around 3%, against at least 4% previously.

As for the other French groups, Adeo, the holding company of Leroy Merlin, reiterated that it was maintaining its activity in Russia, but that it was going to “ 

 ” its new investments.

Leroy Merlin, who like Auchan belongs to the Mulliez family association, indicated that a closure would be considered a " 

 ", " 

".

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