Volkswagen AG, BMW AG and Toyota Motor Corp. have idled Russian plants and suspended shipments to the country as part of a broader retreat by global corporate giants. The one automaker with the most to lose, Renault SA, has remained conspicuously silent.
The French company has lost nearly 30% of its market value in the wake of Russia’s invasion of Ukraine and ensuing economic sanctions. Russia is Renault’s second-biggest market, and it’s paying a heavy price for a $1 billion deal sealed in 2007 with a top ally of Russian President Vladimir Putin.
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