In the News
Coronavirus accelerates car industry restructuring
30th May 2020
The car industry is going to undergo massive restructuring, with Renault shedding 15,000 jobs.
This is the result of the coronavirus, but also a tacit admission that the nature of the sector is changing, with the company planning to focus on the most profitable models. This is also likely to mean a shift towards small vans and electric cars.
Another day, another bailout: this time, the French government is seeking to help car manufacturers, and encourage them to become the leading manufacturer of clean vehicles in Europe.
This comes in addition to a separate bailout package for Renault, and is seen by many as trying to reposition the sector, not least in the wake of Brexit.
Renault cuts 15,000 jobs worldwide as part of a €2bn (£1.8bn) cost-cutting plan https://t.co/o2cM7uUSFb
— BBC News (World) (@BBCWorld) May 29, 2020
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