Renault Could Transfer Its Controlling Stake In AvtoVAZ To Russian Investor | Carscoops carscoops
last week in response to the invasion of Ukraine. Already, the car manufacturer has ceased operations at its large factory in Moscow. The future of this site has yet to be determined.
Russia is the second-largest market for Renault and in 2021, accounted for approximately 482,300 sales, placing it second behind France with 521,700 sales. Due to Renault’s exposure to the Russian market, S&P Global has retained its negative financial outlook on the company. “Although Renault is exposed to Russia because of its large operations there, we are more concerned about its capacity to maintain sound performance in light of likely supply disruptions, higher input costs, and reliance on the European auto market, which could be hurt by the Russia-Ukraine conflict,” the information and analytics company said in a recent report,Renault valued its business in Russia at €2.2 billion at the end of last year.
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‘Heavy Losses’: Russian Units Forced Back To Russia And Belarus To ‘Reorganize And Resupply,’ U.K. Defense Ministry SaysI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com
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