Renault has suspended industrial operations at its Moscow plant and is studying the future of a joint venture in the shadow of The war in Ukraine.
The move prompted the French carmaker to revise its financial outlook for this year, according to a statement on Wednesday, and it expects to take control of matters in the first half of the year following withdrawing from its second-largest market.
Renault has been under increasing scrutiny over the future of its operations in Russia since President Vladimir Putin’s invasion of Ukraine. The automaker has important links with the state, through its acquisition of a majority stake in AvtoVaz, which produces Soviet-era Lada cars. Renault also owns a car assembly plant near Moscow.
