F1: French government gives Renault 3bn euros
10 février 2009
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Auto123.com
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From GMM The French carmaker Renault, who competes in the FIA formula one world championship with a team based at Enstone (UK), will receive a government cash injection amid the global financial crisis. As well as Peugeot-Citroën, Renault is to receive 3 billion euros, in exchange for the manufacturers' pledge to keep factories open and workers in jobs, and to develop a new breed of environmentally friendly vehicles, French president Nicolas Sarkozy announced. "This is not a gift. It is not a subsidy. It is a loan offered at an interest rate of 6 per cent," Sarkozy insisted. Photo Credit : Renault
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