Renault has entered into a credit facility agreement with the French state, for a maximum amount of 5 billion euros ($5.6 billion). The carmaker will be able to draw on this line of credit either in whole or in part, for the purpose of financing its liquidity requirements. There’s also an initial 12-month maturity, with […]
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Alpine might have narrowly escaped Renault’s axe for now, but there are some major changes coming for the historic French brand, which was revived back n 2017 with the A110 mid-engine sports car. Renault announced that the Dieppe factory, Alpine’s home facility, will be safe, at least up until the A110 life cycle ends. This, […]
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Yesterday Nissan revealed its restructuring plan and today it is Renault’s turn to do the same. Renault Group’s main objective is to reduce fixed costs by more than €2 billion ($2.22 billion) over the next three years to restore its competitiveness and “ensure its long-term development within the framework of the Alliance.” Achieving savings of […]
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The French government is setting aside more than €1.3 billion ($1.43 billion) for EV incentives, in a bid to bring down the price of battery-electric vehicles – by nearly 40 percent in some cases, while also lowering CO2 emissions. Buyers could be eligible to receive up to €12,000 ($13,211) in subsidies, making this plan the […]
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It has been revealed that deliveries of the Ford Mustang Mach-E will be pushed back until 2021 in a number of European countries. Ford had been planning on delivering the all-electric Mustang Mach-E to Europe later this year, but in emails sent to those who have ordered the car it confirmed disruptions caused by the […]
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According to French Finance Minister, Bruno Le Maire, Renault runs the risk of going out of business if it doesn’t get help in dealing with the fallout from the coronavirus pandemic. During an interview on Europe 1 radio today, Le Maire said that Renault’s plant in Flins must not close and that the carmaker should […]
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Renault is looking to tighten the belt in order to save €2 billion ($2.2 billion) by 2022 as part of a massive cost-cutting plan. To do so, they will reportedly close several factories in France. Citing local media, AutoNews claims that one of the facilities in danger is in Dieppe, one of the smallest in the […]
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PSA Group is the latest automaker helping to build ventilators as countries around the world continue to struggle to cope with the coronavirus pandemic. Auto News reports that the French automotive conglomerate will work with ventilator maker Air Liquide Medical Systems, Schneider Electric, and Valeo to produce 10,000 ventilators by the middle of May. PSA […]
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Both Renault as well as PSA will receive support from the French government, as the country seeks to help its major carmakers cope with the fallout from the ongoing coronavirus pandemic. Among the measures taken are 300 billion euros ($325 billion) in government loan guarantees, and the deferral of taxes and payroll modifications for those […]
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Apple has been fined a record 1.1 billion euros ($1.23 billion) by the French competition watchdog for its anti-competitive behavior in its distribution network and abusing the economic dependence of its resellers. Additionally, the competition watchdog fined Tech Data and Ingram Micro, two of Apple’s resellers, 63 million euros and 76 million euros for agreeing […]
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