Renault could disappear without a bail out – report
The French brand's 122-year history could be at stake according to a key decision maker.
French car maker Renault “could disappear” if its €5 billion (AU$8.3 billion) government bail out application is not approved, according to the man in charge of signing off on the sum.
France’s finance minister Bruno Le Maire made the prediction while speaking to Europe 1 Radio last week about Renault’s future.
Further to the success of the bail out, Mr Le Maire detailed Renault’s need to “adapt” and “be competitive” in order to survive, according to news outlet Reuters.
Mr Le Maire also said Renault must keep its French production facility in Flins – where the brand's Zoe hatch and Nissan's Micra hatch are produced – open and try to keep as many jobs as possible in the nation.
Above: 2020 Renault Megane RS
Renault Australia declined comment when asked by CarAdvice about the validity of the claims – mirroring the response from its French headquarters when asked by international publications.
Renault resumed full production on 11 May following temporary factory shutdowns due to COVID-19.
In March, Renault's alliance venture fund with partners Nissan and Mitsubishi also came under threat, with sources saying the two Japanese brands could exit the three-way business tie-up.
Renault and Nissan are scheduled to announce an updated business strategy next Wednesday, according news agency Reuters.
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