OREANDA-NEWS  The French automotive concern Renault SA, as part of the implementation of the current buyback program, will buy back up to 2 million of its shares in the period from May 24 to June 7 inclusive, the company said in a statement.

The final volume of the buyout will depend on market conditions.

Meanwhile, the Spanish newspaper Expansion reported, citing sources, that Renault plans to increase car production in Spain to 500 thousand per year, compared with 300 thousand last year. Thus, the output volume will reach the pre-pandemic level.

The company plans to start production of the Espace, Austral, Captur and Symbioz models, as well as the Rafale hybrid SUV.

Renault has two factories in Spain – in Palencia and in Valladolid.

The French automaker's stock prices are rising 3.1% during trading on Friday. Renault's market value has jumped by 33.5% (to 13.8 billion euros) since the beginning of this year, while the CAC 40 stock index has gained 7.2%.