A few days ago, the French car manufacturer announced that it would restart production at its plant in Moscow. However, today’s news says that Renault has given up on restarting production in Russia.

After yesterday’s meeting of the management of the Renault Group, it was decided that the activities in the Moscow plants will be suspended until further notice. This is the result of strong pressure on Renault, which is why the company has changed its business plan and forecasts for this year, where it expects a reduction in operating margin from 4 to 3%.

The Russian market is the second largest for the French carmaker, where Renault is the majority owner of Lada Holding with 67.61 percent. It also controls almost a third of the Russian car market and employs about 40,000 people.

Renault is not the only carmaker to have invested in Russia. There are also Volkswagen and Stellantis. Volkswagen said that due to delays in the delivery of parts from Ukraine, the company was forced to stop production at two factors. Stellantis did not make any statements regarding the current situation.

Finnish tire maker Nokian Tires has relocated its production of key product lines to its homeland.

Source: Renault Group