Renault Plans Recall, Diesel Upgrades to Quell Emissions Storm
- `We're not cheating' on emissions, Renault's Bollore says
- Emissions upgrades are for customers who want improvements
Renault Plans Recall, Should Investors Be Worried?
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Renault SA will recall 15,800 vehicles and make upgraded emissions systems available to about 700,000 customers to quell a storm that emerged last week over concerns about VW-style deceit.
The carmaker has lost more than 3 billion euros ($3.26 billion) in market value since it became public that three sites in France were searched by government fraud investigators on Jan. 7. The probe, which started in the wake of Volkswagen AG’s cheating on diesel-emission tests, involves checking 100 randomly chosen vehicles, including 25 Renault cars. France’s investigation is part of intensified scrutiny of the auto industry as the gap between official lab tests and real-world emissions widens.