Monday, December 5, 2022

Russia relaunches Soviet-era Moskvich car brand using a former Renault plant

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  • Production of the Soviet-era Moskvich car relaunched in Russia on Wednesday at a former Renault factory.
  • The relaunch comes as Russia strives for a self-sufficient economy as the country’s finances continue to be choked by sanctions and other ramifications of its invasion of Ukraine.

The French manufacturer had owned a majority stake in carmaker Avtovaz, before reportedly selling it off for just one Russian rouble and with a six-year option to repurchase. Renault Russia was also reportedly sold to the state for the same token sum.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC


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