Renault sells Soviet-era icon Lada as it exits Russia, for now
CNN
Renault is selling its business in Russia, including a controlling stake in Lada, becoming the latest carmaker to exit the country over its assault on Ukraine.
In a statement on Monday, the French company said it had agreed to sell Renault Russia to the city of Moscow and its stake of nearly 68% in Lada parent Avtovaz to a state-owned industry research center.
Renault is keeping open the option of returning to Russia — the deal gives the company various windows to buy back its interest in Avtovaz over the next six years, the company added.
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