"Renault could disappear", says French finance minister Bruno Le Maire

French finance minister Bruno Le Maire warned Renault could disappear if it didn’t get help soon as Europe's car industry teeters on the brink. The minister is considering a €5 billion loan to the company to help it through the crisis: “Yes, Renault could disappear,” he told Europe 1 radio.

Renault's partner, Nissan, has been reported in the Japanese press as considering 20,000 job-cuts, with many in Europe, casting a shadow over the Flins factory, northwest of Paris, where Renault makes its electric Zoe models and the Micra car for Nissan.

A Nissan owned plant in Spain has also been the subject of speculation over closure recently, as the company is believed to be focussing on China and the USA as its markets of the future.

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