Renault could disappear and must adapt, says French finance minister

Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, France’s Finance Minister Bruno Le Maire said on Friday, while adding the carmaker also needed to adapt to the situation.

Le Maire said that Renault’s French plant in Flins must not close and that the company should be able to keep as many jobs as possible in France, but should also remain competitive.

“Yes, Renault could disappear,” said Le Maire.

He added Renault chairman Jean-Dominique Senard was working hard on a new strategy plan, and had the support of the French government.

Le Maire also told Le Figaro newspaper he had not yet signed off on a 5 billion euros ($5.5 billion) loan for Renault, and that discussions were continuing.

Via Reuters