PARIS- French Finance Minister Bruno Le Maire said he will meet the heads of French carmarkers Renault and PSA on Wednesday to discuss how to help the sector after a sudden drop in production due to the coronavirus.
“Today I will talk to the heads of Renault and PSA as the car sector has come to a halt,” Le Maire told BFM Business radio.
Le Maire said that the meeting was notably aimed at “making sure second-rank subcontractors are treated fairly,” adding it was crucial that large companies support them.
Le Maire also said the government had a range of tools, including nationalisation, at its disposal to insure the survival of large companies. He did not say which companies he had in mind.
“The situation is extremely clear … it is out of the question to see big French companies, industrial icons disappear,’ he said. “If to protect our national industrial heritage, we have to resort to nationalisation, we are prepared to go that far,” he added.
(Content and photos syndicated via Reuters)
