Renault restarts production at Moscow plant
By WIRE SERVICES | 21 March 2022![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2022/03/ren2.jpg)
PARIS: French carmaker Renault resumed production at its Moscow plant today, says a company spokesman.
Renault suspended operations at its car assembly plant in Moscow in late February, saying at the time it was due to a "forced change in existing logistic routes".
The French company has lost nearly 30% of its market value in the wake of Russia’s invasion of Ukraine and ensuing economic sanctions.
Russia is Renault’s second-biggest market, and it’s paying a heavy price for a US$1 billion deal sealed in 2007 with a top ally of Russian president Vladimir Putin.
Renault’s majority control of AvtoVaz, the Soviet-era maker of Ladas, and reliance on Russia for about 12% of its revenue are now matters of investor concern. — Reuters/Bloomberg
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