Renault shares drop by 20 percent after headquarters raid

January 15, 2016 – Renault’s shares have plummeted by a painful 20 percent yesterday as news of a raid conducted by the French Ministry for the Economy and Finance on Renault’s headquarters went public.

Environmental officials visited Renault’s headquarters and two tech centers to carry out on-site and material investigations in order to find out whether the French manufacturer is involved in an emissions scandal like Volkswagen Group.

However, there was no sign of a defeat device in Renault models and, according to French energy minister Segolene Royal, shareholders and employees should be reassured.

The investigation comes in light of Volkswagen’s diesel emissions scandal, and it will propagate towards other manufacturers in Europe.

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