Coronavirus: Renault aims to avoid renationalisation, says chairman

Renault may seek French government guarantees to bolster its finances in the face of coronavirus but a renationalisation of the car maker is not being considered.
By : Reuters
| Updated on: 23 Mar 2020, 02:10 PM
File photo (AFP)
File photo (AFP)
File photo (AFP)
File photo

Renault may seek French government guarantees to bolster its finances in the face of the coronavirus crisis, but a renationalisation of the car maker is not being considered, Chairman Jean-Dominique Senard told Le Parisien newspaper.

"We may seek state guarantees like other companies," Senard was quoted as saying by the French daily. Invoking the last global financial crisis, when Renault received a 3 billion euro ($3.2 billion) government loan, Senard said a renationalisation was "not on the agenda" as things stand.

"Remember that in 2008-2009 we never got to that point," he said, adding that orders for some models were currently down 90%.

First Published Date: 23 Mar 2020, 02:10 PM IST
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