Renault Group Industrial Activities in Russia Suspended

The Board of Directors of Renault Group met today and  suspended Group activities in its manufacturing plant in Moscow  The Group also said its stake in AVTOVAZ, is under review for the available options, “taking into account the current environment, while acting responsibly towards its 45,000 employees in Russia.”

Renault Group had previously taken  the necessary measures to comply with international sanctions. However, President Biden is known to be pushing for further sanctions, and is visiting the EU in Brussels today, and then going to Poland.

Read AutoInformed on:

 As of now, Renault Group revised its 2022 financial outlook with:

  • A Group operating margin of around 3% (vs ≥ 4% previously);
  • A positive automotive operating free cash flow (vs ≥ €1Bn previously). 

About Ken Zino

Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
This entry was posted in economy, manufacturing, news analysis and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *