Renault: without assistance may fail

The WORD OF the MINISTER – According to an article of Reuters, the French Finance minister Bruno Le Maire has claimed in an interview that the Renault (the French state holds 15% of the shares of the group) may fail if you do not receive large amounts of aid within a short time. The cause is obviously to be sought in the profound crisis triggered by the coronavirus. In the course of the interview, Le Maire also said that the Renault plant in Flins, outside Paris, must not close, that the car manufacturer should safeguard jobs in France, remaining at the same time competitive on the market of the car.

THE ALPINE COULD CLOSE – A difficult situation to manage because the Renault must present a short plan of reduction of costs of 2 billion euros for the next two years. Revenue for the first quarter fell 19% to 10.1 billion euro, with a decline in sales in Europe of 36%. Among the various possibilities, ventilated in these weeks there has been talk of closing several factories of components in France as well as the site of Dieppe, where we fabricate the Alpine. The great structure of Flins, just outside Paris, may be adapted for other uses.

A LOAN OF 5 BILLION – The Maire added that the president of the Group Renault, Jean-Dominique Senard, is working on a new strategic plan with the support of the French government. In the course of an interview, Le Maire, as it quantified the discussion by saying it had not yet been signed, the loan of 5 billion euros to Renault and that the negotiations went on. He also added that the French government is asking for specific commitments on the part of the house in three areas in exchange for help: electric vehicles; the fair treatment of the various suppliers and the priority in the development of advanced technologies. The French government has also asked the automakers transalpine to transfer the production of all vehicles in France.