Minister Le Maire: “Renault is fighting for its survival”

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French car manufacturer Renault is in a very serious crisis and “is fighting for its survival”. That is what the French Minister of Economy and Finance Bruno Le Maire made clear on Friday in an interview with the newspaper Le Figaro.

Renault has asked for state guarantees for 5 billion euros, says the minister. “I haven’t signed those loans yet,” he emphasizes. The French government is demanding several commitments from Renault. These include the production of electric vehicles and the establishment of technologically advanced activities in France.

Le Maire also asks to keep the large Renault factory in Flins, near Paris, open. “That is the position of the government and of the state as a shareholder,” he said in an interview with the channel Europe 1. Flins is the largest Renault site on the French mainland and employs more than 2,600 people. According to the satirical magazine Le Canard Enchaîné Renault would like to close that site.

The minister now says to await Renault’s proposals. “Urgent action is needed,” he warns. “Renault can disappear.” He is convinced that the company can overcome the crisis if it adjusts its strategy. He believes it is crucial to focus on advanced technology and electric vehicles.

The minister further emphasizes that he does not have any problems with state interventions to keep ailing companies straight. “I have no qualms about saving our businesses,” he said in Le Figaro. “What other solution is there? To settle with hundreds of thousands of layoffs and bankruptcies? That would kill our economy. ”



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