Renault deals with a criminal probe in France after the country’s consumer fraud agency passed a file to prosecutors detailing suspicions its engines had broken emissions laws, the government stated, sending the automaker’s shares lower on Thursday.
The market ministry stated late on Wednesday the DGCCRF customer scams agency had sent prosecutors the findings of its query into possible emissions test manipulation by Renault, opened due to Volkswagen‘s diesel emissions scandal.
“It is now up to the courts to identify what further action to take over the suspected breaches,” the government stated in a statement. Officials at the district attorney’s office located in Nanterre, west of Paris, were not available for comment.
Renault shares dropped as much as 4.6 percent prior to recovering to 73.75 euros at 1100 GMT, still 2.2 percent below their closing rate on Wednesday, before the announcement.
Renault stated in a short declaration its engines complied with European law. Neither the automaker nor government would explain the focus of the DGCCRF investigation when called by Reuters.
Apart from Volkswagen, Renault is the only automaker so far to be referred for possible criminal investigation in France regarding suspected breaches of emissions guidelines.
