Sinking alliance? Coronavirus puts Renault’s existence in question & threatens 20,000 jobs at Nissan ...United Arab Emirates

The Renault-Nissan automaking alliance has taken a huge hit due to the Covid-19 pandemic. French carmaker Renault may not survive without government aid, and its Japanese partner faces massive job cuts to stay afloat. Renault seeks a €5 billion (US$5.5 billion) state-guaranteed loan to cope with the fallout from the virus outbreak. While the government is still considering whether to provide the funds, French Finance Minister Bruno Le Maire warned that the company is facing “serious financial difficulty” and its future could be at stake. “Yes, Renault could disappear,” the minister told Europe 1 radio on Friday.

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Sinking alliance? Coronavirus puts Renault’s existence in question & threatens 20,000 jobs at Nissan ...United Arab Emirates

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