“Renault” Leaves Russia

by Meifan Honcharuk
Monday, August 21, 2023
“Renault” Leaves Russia

French company sold the last subsidiary in Russia due to country's barbaric war

On August 15, Reuters reported that Insight Investment Group LLC, a Renault RCI Banque leasing subsidiary, had been sold. The name of the buyer and the amount of the transaction, the new name for the company, is not disclosed. It is known that this is the last company owned by a French car manufacturer. RCI Banque was engaged in leasing in Russia. This financial service for French cars officially ceased in the country that started the war.

Recall that in 2022, the owners of the Renault concern decided to withdraw from the Russian market because of the start of a full-scale war in Ukraine. The factories that were engaged in assembling cars of the Renault mark in Russia closed in 2022. After the last asset is sold in the aggressor country, the old Renault cars will not be repaired, and no new models will appear.

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