France Renault Announced to receive government guarantee loan Up to 600 billion yen June 4, 5:1
Renault, a major French automobile manufacturer whose business is becoming more difficult due to the new coronavirus, announced that it will receive a maximum of 600 billion yen with a government guarantee for financing. ..
Renault announced on the 3rd that it will receive a maximum of 5 billion euros (over JPY 600 billion in Japanese yen) from five financial institutions.
The French government will guarantee 90% of the loan amount, Renault said, "in the crisis that has never been seen before, the necessary funds will be provided."
Renault's profit and loss is due to the fact that the sales of automobiles have dropped significantly due to the influence of the virus and that Nissan Motor, which is a major shareholder of Renault, has lost a huge loss in the fiscal year ended March. Is expected to worsen, and management is becoming more severe.
Against this backdrop, last week we put forward a plan to rebuild our business, which included reducing the number of employees by about 15,000, and we have put together a plan to strengthen cooperation with Nissan and other companies that are forming a coalition, and we are looking to rebuild our business. The question is whether they can be connected.