Tag Archives: Renault

News

Renault will offer the GENR5 collection with 1972 NFTs

Renault has announced its entry into the NFT (non-fungible token) market in honor of the 50th anniversary of the legendary Renault 5. It will happen on the 15th of December when it will present the genR5 collection of 1972 tokens. It is the first project with which the brand pays tribute to the creation of the cult model of the 70s.

Each of the 1,972 NFTs available for sale is designed as a 9-second video about the Renault 5, accompanied by an exclusive cover, dynamic lighting and sound effects. The genR5 collection was inspired by four iconic versions of the Renault 5 model.

NFT will be allocated randomly and will only be visible after purchase. It will also give customers access to special benefits. First-time NFT buyers who pay with a bank card as well as those who pay with cryptocurrency will be able to afford NFTs from this collection at the same price.

Also, NFT owners will be able to participate in the creation of The Originals collectibles which will then be available in an exclusive limited edition.

Source: Renault

News

Renault will restart production in Russia

The current situation caused by the Russian invasion of Ukraine has created not only a security and political crisis, but also an economic one. Last month, Renault announced that it was shutting down production lines at AvtoVaz. And while many companies withdrew from the Russian market last month, Renault chose not to do so. Now Renault has announced that it will restart car production at its plant in Moscow.

“Interruptions are caused by more rigorous border controls and the need to change logistics routes,” their official statement said. Interestingly, they did not state that the decision has anything to do with the invasion.

Some may be surprised by this decision, but those who know the car market better will definitely not. 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.

According to some sources, the French carmaker has decided to restart production in fear of losing its plant. Namely, the Russian government recently announced that it is considering confiscating the factories of foreign companies that are withdrawing from the market during the invasion of Ukraine.

On Monday, AvtoVaz announced that it was temporarily suspending production at the Togliatti and Izhevsk plants between May 21st and 25th due to a lack of electronic components. The Izhevsk plant produces Dacia Logan and Sandero.

https://www.youtube.com/watch?v=21aLDfPVYRo

Source: Renault Group

News

Renault will shut down some production lines in Russia

The current situation caused by Russia’s invasion of Ukraine has created not only a security and political crisis, but also an economic one. Affected by the restrictions of Western countries, many companies that have plants in Russia have found themselves in a difficult situation. One of them is Renault, which announced that some production lines in AvtoVAZ will have to be shut down.

Renault will shut down some production lines in Russia
Photo: Renault Group

AvtoVAZ is part of Lada Auto Holding, which also manages a number of factories, with Renault being the majority owner with a 67.61% stake. Russia is Renault’s second largest market, just behind France. “Interruptions are caused by more rigorous border controls and the need to change logistics routes,” their official statement said. Interestingly, they did not state that the decision has anything to do with the invasion.

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 factories. Stellantis did not make any statements regarding the current situation.

Some companies have opted for drastic measures, such as Finnish tire manufacturer Nokian Tyres, which has said it will relocate its production of key product lines to its homeland.

https://www.youtube.com/watch?v=21aLDfPVYRo

Russia is also a producer of several essential metals for the auto industry, such as palladium (38%), aluminum (6%), and rhodium (the second largest producer in the world).

Source: Reuters / Renault Group