A French government minister has warned that Renault could disappear if help is not received as the EU’s motor industry is set for thousands of job cuts.
Japanese car giant Nissan are considering 20,000 layoffs with most in Europe and the alliance between Nissan and Renault are due to announce a strategy update next week.
On Friday, French finance minister Bruno Le Maire warned the future is at stake and is considering a €5bn loan to Renault through the crisis.
Le Maire told Europe 1 Radio, “Yes, Renault could disappear,” and the French manufacturing plant must not close, and should protect as many jobs as they can.
Reuters were told by sources that Nissan’s management are convinced they need to be smaller and cut 1m cars from the annual sales target.
Germany’s Volkswagen announced in December they are to cut around 9,500 jobs at their Audi brand.