Renault Stops Operations In Russia
Published On May 18, 2022 08:00 AM By Rohit
That said, the carmaker has not ruled out a return to the country once things cool down
Renault Group has revealed that it will be selling off 100 percent and almost 68 percent of its shares in Renault Russia and Avtovaz (a Russian automotive brand), respectively, to the government. However, Renault has specified that it could return to the country in the future.
Here’s what the Renault Group’s CEO, Luca de Meo, had to say:
"Today, we have taken a difficult but necessary decision; and we are making a responsible choice towards our 45,000 employees in Russia, while preserving the Group's performance and our ability to return to the country in the future, in a different context. I am confident in the Renault Group's ability to further accelerate its transformation and exceed its mid-term targets".
This comes in light of the ongoing geo-political tension between Russia and Ukraine. In fact, back in March 2022, many carmakers including Volkswagen, Toyota, and Honda had suspended their activities in the war-inflicting country.
Renault’s Russian portfolio includes seven models: the Arkana, Kaptur, Duster, Sandero Stepway, Logan Stepway, Sandero, and Logan. They are priced between Rs 13.5 lakh and Rs 22.5 lakh (converted to INR).
As far as Renault in India is concerned, the carmaker currently has three models on sale: the Kwid, Triber, and Kiger, priced in the range of Rs 4.5 lakh to Rs 10.4 lakh (ex-showroom Delhi). While it recently axed the Duster SUV, we are expecting it to bring the new-gen model to India in the near future.
3 out of 3 found this helpful