Nissan announces exit from Russian market

Nissan announces exit from Russian market        

Boulogne-Billancourt, October 11, 2022 –

Nissan announced today its intention to sell its Russian operations.

Nissan’s adjustment, published in Japanese accounting standards and booked for the 2022/2023 fiscal year, will have a negative contribution to Renault Group’s net income estimated at €331 million⁽¹⁾ for the 2^nd half 2022 (before IFRS adjustments).

This transaction will not impact Renault Group’s operating margin, free cash-flow and financial outlook.

(1) based on an average exchange rate of 141.74 yen/euro for September

About Renault Group
Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 4 complementary brands - Renault, Dacia, Alpine and Mobilize - offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold 2.7 million vehicles in 2021. It employs nearly 111,000 people who embody its Purpose every day, so that mobility brings people closer. Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced and electrified vehicles. In line with environmental challenges, the Group’s ambition is to achieve carbon neutrality in Europe by 2040. https://www.renaultgroup.com/en/

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• 20221011 PR - Nissan exit Russia