The Minister of economy of France: “Renault may disappear”

Министр экономики Франции: "Renault может исчезнуть"

Bad news for the European car industry and those engaged in this production. We are talking about the future of mass job cuts. Japanese carmaker Nissan Motor due to the fall in profit is considering the dismissal of 20 thousand employees, mainly in the European region and emerging countries. The Minister of economy of France Bruno Le Mayor told the media that at stake is the existence of the company Renault.

Bruno Le Mer, Minister of economy and Finance of France: “Yes, Renault could disappear. Large industrial enterprises can disappear. We have to be realistic. With regard to the current economic crisis, I always tell the French the truth. I never hid how serious a crisis do not hide the situation with Renault. But I also know that Renault has exceptional resources, technology, motivated employees and skilled workers. Thus, Renault can bounce back and survive”.

The statement of the Minister was made on the background put forward by the French media assumptions about what the user intends Renault to close several production sites in the country, including a plant in the city of Flen, near Paris.

The company was in difficult financial situation to a pandemic, but its beginning was forced to close all their plants. New machine sales of the Corporation in April in Europe fell by more than 76%. The automaker has asked the authorities to provide a loan of 5 billion euros. Next week the President of France Emmanuel macron will present the plan to support French producers. One of the requirements, which the authorities put forward Renault – participation as a shareholder in the program for the production in Europe of batteries for electric vehicles. The project also engaged the company Peugeot and energy company Total (PA:TOTF).

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