Renault Tumbles After Government Raid in Emissions Probe
- Headquarters, two other sites targeted, company says
- Shareholders can `rest easy,' French Environment Minister says
Renault 'Cooperating Fully' With Emissions Fraud Probe
This article is for subscribers only.
Renault SA offices in France were searched by government fraud investigators as part of a probe into vehicle emissions, raising the specter of a VW-type scandal and sending the carmaker’s shares slumping the most in almost seven years.
Agents from the Economy Ministry’s fraud officevisited Renault’s headquarters as well as sites in Guyancourt and Lardy near Paris last week. The French carmaker is cooperating fully with the investigation, the company said in an e-mailed statement Thursday, without providing details on what may have been seized. French peer PSA Peugeot Citroen said it wasn’t raided and no anomalies were found in its vehicles.