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20 Feb, 2025

Renault Considering Return to Russia

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The CEO of French car manufacturer Renault, Luca de Meo, whose company exited Russia in 2022, has said Renault is not ruling out a return to the Russian market, although it currently has more pressing priorities. “I’d rather focus on building the future than trying to make up for the past... but we’re businesspeople. If we see an opportunity, we try to seize it,” he said.

Maxim Sokolov, head of AvtoVAZ, responded by stating that if Renault were to reclaim its stake in the Russian carmaker, it would have to reimburse it approximately 112.5 billion roubles for investments made during its years of absence. “In 2023, our investment volume was over 27.5 billion roubles, in 2024 it approached 40 billion, and in our 2025 plan, that figure will likely be at least 45 billion. So it’s clear that these investments would somehow need to be compensated if Renault returned,” he explained.

Source: https://www.kommersant.ru/doc/7517212

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