Renault could disappear and needs to be able to adapt: Le Maire

FILE PHOTO: The logo of Renault carmaker is pictured at a dealership in Les Sorinieres, near Nantes, France, February 19, 2020. REUTERS/Stephane Mahe

PARIS (Reuters) – France’s Finance Minister Bruno Le Maire said on Friday that Renault (RENA.PA) could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, while adding that Renault also needed to adapt to the situation.

Le Maire also told Europe 1 radio that Renault’s French plant in Flins must not close and that the French carmaker should be able to keep as many jobs as possible in France, but should also remain competitive.

“Yes, Renault could disappear,” said Le Maire.

He added that, nevertheless, Renault chairman Jean-Dominique Senard was nevertheless working hard on a new strategy plan, and that Senard had the support of the French government.

Le Maire also told Le Figaro paper that he had not yet signed off on a 5 billion euros ($5.5 billion) loan for Renault, and that discussions were continuing.

Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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