In great economic difficulty because of the coronavirus crisis, Renault relies heavily on state aid to get its head out of the water. A loan of five billion euros that the Minister of Economy will not grant without certain guarantees from the car manufacturer.
If the social dialogue process “is undertaken in a constructive and transparent manner, I will sign the guaranteed loan of five billion euros. If this is not the case and I see that we are in a deadlock situation, we will have to continue the discussion, ”said Bruno Le Maire this Tuesday on RTL.
Decisive meeting this Tuesday
In more detail, Renault announced last week a savings plan of more than two billion euros, and a bank loan of five billion euros to which the State must provide its guarantee. At 10:30 am, the minister receives union representatives from the Renault site in Maubeuge (North), local elected officials and the president of Renault Jean-Dominique Senard to discuss the future of this site.
As part of its savings plan, the group plans to transfer the production of Kangoo electric utilities to its site in Douai - about 2,900 employees -, about 70 km from Maubeuge, which would inherit a new platform. This project aroused the anger of Maubeuge employees who stopped the activity of the site on Friday and demonstrated on Saturday in front of the factory.
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