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Renault value plunges following testing raids

The defeat device debacle refuses to die and a possible fresh scandal on this front threatens Renault. By Megan Lampinen

The defeat device debacle refuses to die and a possible fresh scandal on this front threatens Renault this time. The French OEM has confirmed that its headquarters and the technical centres in Lardy and Guyancourt were recently raided by France's Directorate General for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF). News of the "on-site and material investigations", as Renault describes the raids, resulted in a plunging share price.

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