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Renault shares plunge on factory raids by police


The French carmaker confirmed the raids, saying that investigators wanted to check equipment at its factories.
Investors feared Renault was embroiled in cheating emissions tests, something Volkswagen admitted last year.
However, Renault stressed that tests have shown "no evidence" of devices designed to cheat emissions tests.
It said the fraud investigators were looking at the way Renault uses exhaust emissions technology, and it was co-operating fully with the probe.
The statement said that investigators "decided to carry out additional on-site and material investigations, in order to definitively confirm the first findings resulting from the analysis of the independent technical commission".
Investigators "went to the headquarters, the Renault Technical Centre in Lardy and the Technocentre in Guyancourt," Renault said.
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