Billions wiped off Renault’s market value as French police raid factories

French police and fraud investigators have raided three Renault sites in search of vehicle technology that was used by Volkswagen to cheat emissions tests. The car maker said authorities found no evidence of the devices but the news of the inspections saw billions wiped off its market value. The company did though recover from a 22% fall in share price. Recent test results revealed that emissions exceeded limits on vehicles made by Renault and by some other car makers.

More from Business News

On Virgin Radio today

Trending on Virgin Radio

  • If Craig David had a verse on Azizam

    The legendary Craig David joins The Kris Fade Show for an unforgettable chat!

  • ARN News Centre

    Get the latest UAE and world news from our award winning team of journalists. The ARN News Centre is the country's most trusted source of information.

  • Ed Sheeran - UAE EXCLUSIVE

    Latest album, what happened with BTS, raising a baby girl, eye surgery, and more!

  • Bassem Youssef

    One of the most talked about comedians in the world takes over The Kris Fade Show. Watch the full interview here...