The Russian Association of Automobile Dealers (ROAD) sued Renault. This was reported to socialbites.ca by the head of PATH, Alexei Podshchekoldin. According to him, a lawsuit was filed in court for financial losses incurred by dealers in connection with Renault’s withdrawal from the Russian market. It is assumed that dealers will claim ownership of Renault in Russia.
“When Renault left the market, they reserved the right to buy shares in AvtoVAZ for 1 ruble. That’s why we will file a lawsuit for compensation, including this ruble, ”said Alexei Podshchekoldin.
Renault suspended its activities in Russia in March 2022. In the second half of May, the Ministry of Industry and Trade announced that the Russian assets of the Renault group had passed into state ownership. The city of Moscow received the securities of the Renault Russia plant, Renault’s share in AvtoVAZ was transferred to the NAMI institute (subordinate to the Ministry of Industry and Trade). Denis Manturov, head of the Ministry of Industry and Trade, said that the transfer of the automaker’s assets to the state was framed as an “agreement for the ruble” with the right to buy back.
Renault’s net loss from the termination of its business in Russia amounted to 2.3 billion euros.
formerly steel knownThat Dongfeng is negotiating cooperation with AvtoVAZ.