The French economy minister sinks his action after saying that “it may disappear”

The French Minister of Economy, Bruno Le Maire, This Friday has caused serious damage to the actions of Renault that they have fallen 2.86% after lamenting the bad situation the company is experiencing due to the coronavirus crisis and has come to assure that “survival is at stake” and “it can disappear”.

Renault shares have closed at 17.71 euros per share and the shares of the French multinational opened lower this Friday. However, when the day closed at the Paris parquet, Renault’s shares stood at 17.20 euros, 2.86% less, after trading at a maximum of 17.96 euros and at a minimum of 16.80 euros.

Le Maire has pointed out that the great industrial builders can disappear

All this in a day in which Le Maire has pointed out that both Renault and the major industrial manufacturers “may disappear” due to this crisis, so the vehicle manufacturer “is risking its survival”.

In two interviews published by the French newspaper ‘Le Figaro’ and the radio ‘Europe1’, collected by Europa Press, the French minister has assured that the automobile group intends to request a loan with state guarantees amounting to 5,000 million euros, which is still has not been signed.

Commitments

In order to carry out this transaction, the Executive demands “commitments” in three directions: the electric vehicle, the respect of the auxiliary companies and the location in France of its most advanced technological activities.

These statements come a few days after it emerged that Renault would be planning to close three factories located in France as part of its restructuring strategy to deal with the Covid-19 crisis.

In this way, its facilities in Dieppe, Les Fonderies de Bretagne and Chiosy-le-Roi could cease to operate “in the near future”. In total, about 1,000 people work in these three factories.