⚡️ Reuters: French automaker Renault resumes production in Moscow.

[Donkees]

The Kyiv Independent
@KyivIndependent
·
1h
⚡️ Reuters: French automaker Renault resumes production in Moscow.

On March 22, the company decided to resume operations in the country. Renault is the majority owner of AvtoVaz, Russia’s largest car manufacturer famous for the Lada brand.

[Emile]

1. They still make that junky car?

[dem4decades]

3. LOL we posted that they were junk at the same time. It's like a word association game,

you say Renault and the response is junk.

I'd be willing to reconsider that if they weren't back in Russia at this point,

[dem4decades]

2. Time to boycott Renault, as if I'd buy one of those. it's my opinion they're junk anyway.

[Hortensis]

4. According to Forbes, withdrawal presents "significant challenges."

French carmaker Renault also hasn’t announced any changes to its Russian business, and its reliance on the country presents significant challenges: the company has roughly 40,000 employees in Russia and accounts for about a third of the Russian car market, according to Reuters, and Renault shares have fallen by more than 30% since Russia began its war on Ukraine.

Reportedly at least 37 companies have refused to scale back their operations, while 350 are identified as withdrawing or scaling back operations.

Among the refusers Koch Industries.

Koch Industries, the American conglomerate that ranks as the second-largest private company in the U.S. according to Forbes’ estimates thanks $115 billion in annual revenue, stuck by its Guardian Industries subsidiary continuing to operate its two glass manufacturing facilities business in Russia Wednesday, and Koch COO Dave Robertson explained in a statement the company doesn’t want to abandon its employees in the country “or hand over these manufacturing facilities to the Russian government so it can operate and benefit from them.”