The French carmaker Renault has resumed manufacturing in its plants in Moscow, bucking the trend of many other large global companies that have cut ties with Russia over its war on Ukraine.
Renault had suspended production at the plant last month, citing logistical problems after the invasion of Ukraine on Vladimir Putin’s orders. However, Renault’s decision to restart manufacturing has the backing of the French government, which is its main shareholder, according to sources cited by Reuters.
Renault has owned a controlling two-thirds stake in the Russian carmaker Avtovaz since late 2016, after first investing in what was then a fast-growing market in 2007. That means it has larger operations in the country than most other European rivals, with 40,000 local employees, posing a huge challenge as the US, UK and EU governments try to isolate Russia economically. » | Jasper Jolly and Sarah Butler | Monday, March 21, 2022
