Renault’s chief executive said the company would not rule out a return to Russia, as Donald Trump pushes for a rapid peace deal to end the Ukraine war.
Renault was one of the international carmakers with the highest exposure to Russia before the country’s full-scale invasion of Ukraine, due to its controlling stake in Avtovaz, known for its production of the Soviet-era Lada cars first developed in the 1970s.
The company sold its Russia business and its almost 68 per cent stake in Avtovaz for 2 roubles in May 2022, a move that amounted to a €2.2bn writedown for the carmaker. However, it maintained an option to buy back its interest in Avtovaz for a six-year period.
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