The French government has backed the marque’s decision to reopen factories in Russia, according to Reuters.
French car maker Renault has resumed production at its factories in Russia, four weeks after pressing pause due to supply chain constraints caused by the war in Ukraine.
According to Reuters, the decision to reopen three plants was backed by the French government – which is a major stakeholder in the marque.
The Renault Group also owns a controlling stake in AvtoVAZ – the owner of Russia’s biggest car maker
Lada – and the investment accounts for approximately 12 per cent of its annual turnover.However, it’s currently unclear if Renault’s announcement will also see its subsidiary return to full capacity. Lada shut its own factories
earlier this month, and is yet to announce a timeline for reopening.Stock in the Renault Group collapsed by more than 25 per cent following Russia’s invasion of Ukraine last month, and is yet to show signs of recovery.
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