Ministers could face growing calls to bail out Britain’s car industry after France stepped in with an €8bn (£7.2bn) rescue package for its own firms.The French government has stakes in both businesses, and the total amount of aid includes a €5bn loan to Renault.The bailout will trigger fresh demands for Britain to look at a similar plan with its car industry in a parlous position, as this video documents.
Tag: Renault
Renault, Nissan abandon race for growth to focus on costs
Renault SA and Japanese partners Nissan Motor Co. and Mitsubishi Motors Corp. unveiled a plan for deeper cooperation in developing and building vehicles as they seek to salvage their strained alliance and weather a collapse in car demand. The measures will help deliver savings of as much as 40% in model investments for jointly developed… Continue reading Renault, Nissan abandon race for growth to focus on costs
Renault and Nissan rule out merger as they unveil survival plan
PARIS/TOKYO (Reuters) – Renault (RENA.PA), Nissan Motor Co (7201.T) and Mitsubishi Motors Corp (7211.T) ruled out a merger on Wednesday and instead said they would cooperate more closely on vehicle development to slash costs and salvage their troubled alliance. FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in front of dealerships… Continue reading Renault and Nissan rule out merger as they unveil survival plan
UPDATE 2-Renault and Nissan rule out merger as they unveil survival plan
FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Reims, France, July 9, 2019. REUTERS/Christian Hartmann PARIS/TOKYO (Reuters) – Renault (RENA.PA), Nissan Motor Co (7201.T) and Mitsubishi Motors Corp (7211.T) said on Wednesday they would each take a lead on car manufacturing in different… Continue reading UPDATE 2-Renault and Nissan rule out merger as they unveil survival plan
@Nissan: Alliance new cooperation business model to support member-company competitiveness and profitability
2020/05/27 Alliance partners to leverage leader-follower scheme to enhance efficiency and competitiveness in products and technologies Individual members to be reference for the regions where they have key strengths, acting as a gateway and support mechanism for partners’ competitiveness Alliance continues to benchmark performance in products, technologies and markets against top industry standards Groupe Renault,… Continue reading @Nissan: Alliance new cooperation business model to support member-company competitiveness and profitability
Renault has no problems in relations with French state: chairman
FILE PHOTO: Chairman of Renault SA Jean-Dominique Senard attends a news conference at French carmaker Renault headquarters in Boulogne-Billancourt, near Paris, France, October 11, 2019. REUTERS/Charles Platiau PARIS (Reuters) – Renault (RENA.PA) Chairman Jean-Dominique Senard said on Wednesday that relations with the French government were fine, even as the state continues to haggle over finalising… Continue reading Renault has no problems in relations with French state: chairman
France announces €8bn rescue plan for car industry
The French government has announced an €8bn (£7.1bn) rescue plan for its car industry, which has been severely impacted by the coronavirus pandemic. President Emmanuel Macron’s proposal includes €1bn to provide grants of up to €7,000 to encourage citizens to purchase electric vehicles. It also puts money toward investments to make France a centre for… Continue reading France announces €8bn rescue plan for car industry
Macron: 8 billion to the auto industry to gain leadership in the electrical sector
INDUSTRIAL POLICY The French president announces a major recovery plan for the sector consisting of measures to support demand, investment and relocation to France. Electric and self-driving cars the strategic objectives (EPA) The French president announces a major recovery plan for the sector consisting of measures to support demand, investment and relocation to France. Electric… Continue reading Macron: 8 billion to the auto industry to gain leadership in the electrical sector
French carmaker Renault to cut 5,000 jobs by 2024: Le Figaro
A logo of Renault carmaker is pictured at a dealership in Nantes, France, May 26, 2020. REUTERS/Stephane Mahe PARIS (Reuters) – French carmaker Renault (RENA.PA) is about to announce plans to cut 5,000 jobs by 2024 in its drive to save 2 billion euros ($2.20 billion) in costs, according to a report published Tuesday by… Continue reading French carmaker Renault to cut 5,000 jobs by 2024: Le Figaro
Nissan plans $2.8bn cost cut, scaling back US factory
TOKYO — Nissan Motor plans to scrap a production line at one of its two U.S. auto assembly plants as part of an effort to cut 300 billion yen ($2.79 billion) in annual costs, Nikkei learned Tuesday. The closure of a line at the factory in Canton, Mississippi, is expected to reduce the Japanese automaker’s… Continue reading Nissan plans $2.8bn cost cut, scaling back US factory