French carmaker Renault said fraud investigators had inspected three of its sites to look into its vehicle emissions technology.

News of the raid wiped billions off Renault's market value as investors feared a repeat of the scandal engulfing German rival Volkswagen.

Renault said investigations to date had found "no evidence of a defeat device equipping Renault vehicles," in a reference to a type of software program U.S. investigators found Volkswagen used to cheat emissions tests.