INSUBCONTINENT EXCLUSIVE:
Russia has nationalized a major factory that belonged to Renault and intends to use it to revive the famous Soviet-era Moskvitch car in what
The production company was declared bankrupt in 2006, 75 years after rolling out its first model and five years after producing its last
performance and ability to return to Russia in the future under a different context.Renault confirmed a non-cash writedown of nearly $2.29
billion to reflect the potential costs of suspending operations in Russia.Renault began car production in Russia as part of a joint venture
with the city of Moscow in 2005.Renault, which had the most exposure to the Russian market among Western carmakers, suspended operations at
automotive institute NAMI, which had taken part in creating a fleet of presidential vehicles.The ministry said Renault will have the option
to buy back its stake in Avtovaz, which will service Renault vehicles in Russia, within the next six years.It did not indicate whether the
